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Forums » Seeking Financing, Money, or Loans » Hard Money in SW Mich

Hard Money in SW Mich Subscribe to Hard Money in SW Mich

5 posts by 5 users

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Kevin Echtinaw

Residential Real Estate Agent · Alto, Michigan


Forum_avatar_avatar-kcppm

Mar 22 '09, 06:07 AM

I've found a couple deals in Mich. that cashflow extremely well. The problem is I don't seem to get any response from the HM lenders I've contacted. My credit is upper 700's and I only need about 200K. The only response I received was 6pts. and 16.5% Correct me if I'm wrong, but that seems a bit steep to me. Looking for any suggestions, leads, offers etc. You can almost call me 'desperate to get started'. Thanks in advance for any advice or info.

Edited: 06/26/2010 at 07:39AM


Jon Holdman

Real Estate Investor · Wheat Ridge, Colorado


Forum_avatar_avatar-wheatie

Moderator Pro

Mar 22 '09, 06:29 AM

That's a little steep, but probably not bad for Michigan.

Edited: 06/26/2010 at 07:39AM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


Jason Trepins

Real Estate Investor · Wyoming, Michigan


Forum_avatar_avatar-grinvestingllc

Mar 22 '09, 07:13 AM

Hi Kevin,
We're over in Grandville, not too far from you.

That is steep and you should try to find private money or at least a credit partner. I haven't had great luck with finding hard money for properties in west michigan.

Edited: 06/26/2010 at 07:39AM


Lori McMahon

Real Estate Consultant · Wisconsin


Forum_avatar_avatar-1birddog

Mar 22 '09, 05:01 PM

Hi Kevin!

Have you tried getting a Business Line of Credit? You have a high enough credit score I believe and you can usually get up to $250K. You can use this line of credit for anything including down payments on real estate, etc. Your local bank should be able to help you or do an online search. There are many firms offering this.

Lori :)

Edited: 06/26/2010 at 07:40AM


Jamal Joffrion

Real Estate Investor · Stockbridge, Georgia


Forum_avatar_avatar-jcapital

Mar 23 '09, 06:19 AM

Kevin

Hope all is better I may be able to help you with the hm issue call me (removed) my co has great investor programs

Edited: 06/26/2010 at 07:40AM by Moderator




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