I Need Funding

I have a great deal under contract. I need a hard money lender that will not go by my credit score. i am in the Washington DC area. does anyone know of any?

Did you check here: http://www.reiclub.com/hard-money-lenders.php


what are your plans for the property. if you can’t credit qualify then try wholesaling for awhile to build cash assets. can you still profit from assigning or double closing.

I am getting this property from another investor, she is assigning over to me. Can i still assign it over?

please answer the question…what are you planning to do with the property?

since hard money is short term, how will you get out of their loan.

if you plan to wholesale the property and already have a buyer lined up, there may be some options for you if you cant assign or do a “dry” double closing (using the end buyer’s funds)

I plan on wholesaling it. If I can’t find a buyer then i will have to purchase. I do not have the funds to purchase.

In St. Louis, most REO properties cant be assigned. So I’m not sure if that fits your case.

If an assignment is not possible and you do find and end buyer are you familiar with a double close and have the resources to get that done.

If the title companies or your state will not allow double closing using the end buyers finacing then you should use a private lender that will actually fund your purchase. Those funds would be available to you for only that day. You wouldnt need any of the following: application, credit, employment, income, assets, nor appraisal. Your end buyer must have their financing completely lined up and you’d need to close at the same title company.

Find a buyer that’s qualified!!! Preferrably somebody that is a cash buyer or used hard/private money. End buyer’s that are using conventional may still be challenging to get through as a double close.

Do you do hard money loans?

Most hard money lenders that do short term loans appear to be wanting more than just feeling comfortable about the property. Since the market is slow for sales they want to be sure about you being able to refi.

If you dont have the credit to refi or dont want to show credit you’d probably need to have some liquid assets. How much do you have available in checking/savings…how about retirment accounts? How much could you put down?

I’m not a lender but know of many lenders throughout the US and they will ask just about the same questions. If your answers warrant addtional questions I’ll send them over by PM or email.