I live in a small town (2000 people) I have tried to get hard money from three different companies including patch of land to fund my first multi unit deal. They are all coming back saying that my town is too "rural" for their taste even though the deal makes sense. Has anyone experienced this and know of a company that offers hard money in smaller communities? Any help is appreciated!
You're more likely to get a response if you include where you're investing and post in the relevant local forum.
Call more people. You're more likely to find a smaller local HML with experience in your state than you are getting a big national outfit like Patch of Land to fund you. So don't stop at 3, call 30. Google every hard money lender in your state - someone will be willing to do it.
Also consider calling local mortgage brokers - eventually you'll find someone with contacts.
I live in a small town of about 16,000. I've had the same issue with hard money. I did, however, find a local bank that I work with and they have done some creative lending for me. The rates are much better than hard money as well as origination fees.
Try building a relationship with your local bank and see what mutual solutions you can come up with.