Private Lenders ?

Financing, Hard Money Lenders, Private Money
1

Where can I find Private Lenders interested in some refies for me? I am RE investor with over 25 properties and have 720 credit score. Been in the business for over 8 years. I can’t get any banks even remotely interested. Please help with some advice.

2

Do you want private lenders for short term or long term? Is the only reason you want private loans because of the amount of properties owned?

Several other questions to be addressed.

3

sell some of the properties if they have mortgages in your name. There is a new rule that only allows a person to have 4 mortgages in their name.

4

I can’t fathom selling 20-22 homes to get under the 4 house maximum limit of most banks just so that I can refi the remaining 4. In addition, in this market I highly doubt I would get what I need out of these houses in each sale to make it worth my while. All these houses are positive cash flowing and selling them for what I owe would put me out of business. I am looking to keep the properties I currently own in my portfolio and get 4 refied on loans of at least 2 years in length with hopes banks will start lending to guys like me again within that time period. The interest I am now paying on these 4 loans is too high and I have balloon payments that are coming due. If anyone out there knows of some institutions or private lenders out there still making loans with reasonable rates to guys like me then please let me know
Thanks

5

Does anyone know where I can find a list of private lenders who will lend with the security being 100% of a buy-to-let?
ie instead of lending eg 85% or 90% the loan is 100% of the purchase price and the security is the property? Thank you…

6

I’m looking for someone to finance at least $50,000 on a property located in Long Island, NY. My client does not meet strict banking guidelines but is anxious to put a deal together. The home is worth $520,000 with a first mortgage of approximately $186,000.

Thanks.

7

find a portfolio lender to do a blanket refi. for you. call around to local banks, and credit unions - they aren’t restricted to the lending rules of Fannie and Freddie b/c they do not sell their loans in the secondary market. J