I am working on REOs in Atlanta, rehabbing them and selling them with Section 8 tenants installed at a sub $50k price point. I need 90-120 day money, will pay 15% annual return and 5 points. Looking for anywhere from 30-100k at a time to enable me to work on 3-5 properties at a time. Very good credit, but cannot show income. Secure the loan with the asset and let’s get started!! currently financing through my own IRA and will continue to do so until I can find the right deal.
You probably wont find what you’re looking for with hard money lenders. You’ll need to look for private money in your local area.
The hml that service Atlanta usually have minimum loan amounts which you’ll likely not meet. Some may allow for putting a couple properties together if you have experience with multiple projects. Most hml will only start you off with 1 project at a time though.
Your terms are just about average for most hml however I have seen quite a few raising rates/cost.
Most want verification of income and assets now. For those dont need income verification they still like to see that you have liquid assets incase of an emergency.