Private or Hard Money in Baltimore? Messy Wholesale Deal!

3 Replies

Good Morning BP,

I have this property that initially I was going to wholesale but after speaking more with the seller I found out that this is a short sale property. Being my first deal, I dont want to wholesale it because of what I heard about people getting in trouble for short sale fraud by wholesaling short sales. I still think this would be a great deal though if I can bring in a partner to fix and flip it. I am wondering what are some good private or hard money lenders in Baltimore for beginners so that I can get an idea of how much cash is needed to go through with this deal?

Kenneth,

If this is truly a short sale, it could take a long time (12-14 months is not uncommon). As such, I'd look for private money/bringing in a partner (ideally someone who is more experienced) to help fix and flip. Obtaining hard-money for your first deal, especially given the somewhat complex nature , could prove to be quite challenging. Best of luck with everything moving forward!

@Kenneth Futrell there used to be a list of hard money lenders here on the site. If it is here I don't know where it is. I would try under the tools tab - REI Resources. I know there is at least one blog that has a list of hard money lenders specifically for the Baltimore area. Try a google search.

Originally posted by @Ned Carey :

@Kenneth Futrell there used to be a list of hard money lenders here on the site. If it is here I don't know where it is. I would try under the tools tab - REI Resources. I know there is at least one blog that has a list of hard money lenders specifically for the Baltimore area. Try a google search.

 https://www.biggerpockets.com/hardmoneylenders