Residential Hard money

Curt Davis, buyMemphisnow.com
E-Mail: crtdavis@gmail.com
Telephone: 901-881-0552
Website: http://www.buymemphisnow.com
Full Service Real Estate Investing in Memphis TN

Samuel Kimani

Carpenter · Richmond, Virginia

33 posts
3 Influence
1 Award

Icon_minipost Dec 09 '08, 07:08 PM

The tone I take that in is that you have connections for one.

care sharing some contact info with a new guy. My end buyer is set up already.

Edited: 06/26/2010 at 06:36AM

Curt Davis

Wholesaler · Memphis, Tennessee

1108 posts
6055 Influence
7 Awards

Icon_minipost Dec 10 '08, 07:54 AM

The hard money lender I work with will only do loans for clients that are company sells property to. If anything changes I will let you know.

Edited: 06/26/2010 at 06:37AM

Curt Davis, buyMemphisnow.com
E-Mail: crtdavis@gmail.com
Telephone: 901-881-0552
Website: http://www.buymemphisnow.com
Full Service Real Estate Investing in Memphis TN

Fred S

Contractor · New Jersey

203 posts
9 Influence
1 Award

Icon_minipost Dec 14 '08, 09:27 PM

what % down does a hml usually look for?

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

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75537 Influence
15 Awards

Icon_minipost Dec 14 '08, 10:51 PM

With a good enough deal, and in some areas, maybe none. Depends on the HML.

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

Jon Holdman, Flying Phoenix LLC

Samuel Kimani

Carpenter · Richmond, Virginia

33 posts
3 Influence
1 Award

Icon_minipost Dec 18 '08, 12:38 AM

what makes for a good deal, when dealing with them? Does it matter to them if you have a definite exit strategy? I talked with one of them and they said that it didn't matter to them if I did have a guaranteed end buyer.

Edited: 06/26/2010 at 06:42AM

Steve L.

SFR Investor · Rancho Cucamonga, California

826 posts
6960 Influence
8 Awards

Icon_minipost Dec 18 '08, 01:30 AM

Originally posted by Inamiks

what makes for a good deal, when dealing with them? Does it matter to them if you have a definite exit strategy? I talked with one of them and they said that it didn't matter to them if I did have a guaranteed end buyer.

The lower LTV the better. Typically 70% or less of ARV. A buyer with experience and assets. They would want to know that the loan will most likely get paid off when the term is complete.

Edited: 06/26/2010 at 06:42AM

Bryan Silver

Real Estate Consultant · Magic Kingdom, Florida

136 posts
427 Influence
2 Awards

Icon_minipost Dec 22 '08, 06:34 AM

Just like you have a lot of "tire kicker" investors, you also have a lot of HML's that overpromise, underdeliver.

Many lenders simply can't close despite how low LTV may be.

There are some good ones out there, that won't knock you over the head w exorbitant fees but it does require a lot of due diligence.

Edited: 06/26/2010 at 06:44AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
54461 Influence
23 Awards

Icon_minipost Dec 23 '08, 06:26 AM

I skip the HML's and use private money lenders. My sources come from self directed IRA owners, homeowners with lots of home equity and HELCOS, disgruntled stock investors, and expired CD's to name a few.

The key is to form a relationship first. Once they see you can operate and score great deals, they will come to you and ask how they can make money too.

Edited: 06/26/2010 at 06:44AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Rob Lawrence

· Rhode Island

38 posts

Icon_minipost Feb 08 '09, 07:01 AM

Do you have a list of hard money lenders? They are hard to find and filter through the good ones. A full list would be helpful. Many thanks!

Edited: 06/26/2010 at 07:11AM