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Forums » Make Deals, Find Partners, Mentors & BirdDogs, etc. » private lenders wanted

private lenders wanted Subscribe to private lenders wanted

6 posts by 6 users

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Forum_avatar_avatar-icebergslim

Icon_minipost Jan 12 '07, 08:31 PM

Hi my name is Eric Johnson and I am looking for private money for a project in Cleveland Ohio. It is a ten unit apartment building fully rented. I need 150,000 for this project and I am willing to pay between 10% to 15% for the money. I will throw in a brand new plasma tv for any lender or referral.

Edited: 06/26/2010 at 03:18AM


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Forum_avatar_avatar-hailey

Icon_minipost Feb 17 '07, 11:15 AM

I have a brilliant place for you.
To sum it up: Non-Conforming - No Doc, No Credit Check, No Income Verification
Credit is of LIMITED concern. Answers fast, close fast. Private money.
From $150K :D

Edited: 06/26/2010 at 03:23AM


Joe Intonato


Forum_avatar_avatar-sandone

Icon_minipost Feb 19 '07, 09:57 PM

Originally posted by " hailey"
I have a brilliant place for you.
To sum it up: Non-Conforming - No Doc, No Credit Check, No Income Verification
Credit is of LIMITED concern. Answers fast, close fast. Private money.
From $150K :D

Haily,

Your posting is almost to good to be true....

I am looking for a True asset lender( RES-COMMER) who looks at the underlying property,rather basing their lending on the individual 100%.

Edited: 06/26/2010 at 03:23AM


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Forum_avatar_avatar-wadencapital

Icon_minipost Feb 20 '07, 08:58 AM

Yeah that does sound to good to be true, though it may not be. Let me know how it goes, and if it doesnt work out, I can get you the money you need.

Edited: 06/26/2010 at 03:23AM


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Forum_avatar_avatar-zmance

Icon_minipost Mar 04 '07, 06:28 PM

Defienetly curious if you got the money, do post your results!! Id like to know!

Edited: 06/26/2010 at 03:24AM


Ryan Steele

Real Estate Investor · Chicago, Illinois


Forum_avatar_avatar-4rmgt

Icon_minipost Mar 05 '07, 12:55 PM

Anthony,

Just noticed you were in Chicago. Welcome fellow Chicagoan.

As to the lending on True Asset. I personally do HML but gave up the practice of lending on just the Asset a few years ago. I, like a bank, am not in the business of owning properties. Even though there is room in the LTV to still be safe with the loan, it is a complete hassle to foreclose then go through that entire process.

So, of course I will look at the borrower some, to see if they have a history of bailing out on the loans. Not paying on time, etc. I want a performing asset. I think you will understand that some.

Anyway, if you find some True Asset lenders, let me know I would love to have a place to refer people that don't qualify with me.

Thanks...

Edited: 06/26/2010 at 03:24AM


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