Using lending tree,lending club as private money

Rental Property Investor · Member since 2018 · 110 posts · 9 votes

why don’t you hear about investors using lending club or lending tree for cash money offers ?

40 views

3 Replies

Sort by

Christopher Phillips
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
7y
@Giovanni Luna.
They aren't cash. It's still a loan. That means an underwriting/screening process.
Cash is liquid hard money in the bank or in a money belt (auctions).
0 Reply
Giovanni Luna
OP
Rental Property Investor · Member since 2018 · 110 posts · 9 votes
7y
Even then, why don’t you hear people using them?
0 Reply
Dave Ramirez
Rental Property Investor · Ashburn, VA · Member since 2016 · 239 posts · 119 votes
7y
The money doesn't have to be seasoned so a loan like this would work. I imagine the rehabber is saying they are going to refi credit cards and uses the money for a the property. If it were me I wouldn't broadcast it.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.