Questions on Investor Loans

Financing, Hard Money Lenders, Private Money
1

Hello all -

Two questions:

  1. I’m looking for a GOOD list of private money lenders - any leads?

  2. Commercial lenders typically do loans of up to 80% of purchase price. But the ones I’ve spoken to do not allow 2nd mortgages to cover the remaining 20% - despite many good deals with positive cash flow. Does anyone know of lenders that DO allow 2nd mortgages?

Thanks,

Tim

2

Hi,

Let me know what state your looking for private money lenders in and I will see what I have in my network?

Hard Money Lenders / Private Money Lenders (Commercial Hard / Private Money) do not care where you get the 20% from providing your qualified to manage the property your looking for and the major lender is in 1st position.

Conventional Banks and Lenders always believe you should have cash in your pocket while hard / private lenders don’t care if your the managing partner for 19 beer buddies and each of you put up 1%, they (The hard / private lenders) just want to know your financially capable and you have the experience and historical success to make it work.

               GR
3

GR - I’m in Maryland - Baltimore/Annapolis area. Thanks for the reply and insight; would appreciate any help you may be able to offer!

Tim