I’ve been wanting to get into real estate for about 2 years now I’ve been to all the seminars all the classes I can find. My problems is that i have toubled credit i’m working on that but i still want to get into flipping. I’ve found 3 great properties (the owners are tring to stop foreclousers)? Where can I found hard money lenders.
Hi we found hard money lenders in many places,Our real Estate Broker, Our Mortgage broker gave us some contacts and also real Estate Attorney’s although you have to be careful witht the Attorney’s as they will sometimes “pad” the deal so that they make a profit making it less profitable for you. We were able to find “hard money” at 2 pts and 8.5% which actually ended up costing less than a convential mortgage with all the closing costs. Hope this helped
That’s a great rate for hard money! Are they national lenders?
Can you share the reference with us all. I haven’t been able to find
anything better than 3 pts at 12%.
3 posts, 3 voices
torrance writes, Jan 2, 2008: (1 post)
I’ve been wanting to get into real estate for about 2 years now I’ve been to all the seminars all the classes I can find. My problems is that i have toubled credit i’m working on that but i still want to get into flipping. I’ve found 3 great properties (the owners are tring to stop foreclousers)? Where can I found hard money lenders.
htlheinz writes, May 11, 2008: (1 post)
Hi we found hard money lenders in many places,Our real Estate Broker, Our Mortgage broker gave us some contacts and also real Estate Attorney’s although you have to be careful witht the Attorney’s as they will sometimes “pad” the deal so that they make a profit making it less profitable for you. We were able to find “hard money” at 2 pts and 8.5% which actually ended up costing less than a convential mortgage with all the closing costs. Hope this helped
CallahanProperties writes, Jun 6, 2008: (1 post)
htlheinz,
That’s a great rate for hard money! Are they national lenders? Can you share the reference with us all. I haven’t been able to find anything better than 3 pts at 12%.
thanks for sharing.