Greetings, I am looking for a private, or 'hard-money' lender in Michigan. Assets, income, credit - none of these are issues. I have more than enough collateral.
I have as many as 10 SFRs that can be offered as collateral, however, all are held in LLC. I can easily deed them over to my person, and am certainly willing to do so. That's where I am running into a problem with conventional lenders - they want minumum of 6 months seasoning. But even if I go that route and wait the 6 months (12 with many other lenders), time is money. In addition, the way these conventional lenders have been behaving, who's to say the programs will be available or unchanged in 6 to 12 months? To be clear, I have owned the properties for more than what the seasoning requirements are, and all offer very good cash-flow, however, they are currently being held by LLC.
Thank you
