Hard Money Lenders- Illinois

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Hard Money Lenders- Illinois

Stephen Jones
Rental Property Investor · IL · Member since 2019 · 285 posts · 137 votes

Has anybody used a Hard Money Lender near the southern Illinois area? Please let me know if so. Thanks!

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John Burtle
Real Estate Broker · IL · Member since 2016 · 284 posts · 178 votes
5y

@Mark Faustrum

Renovo won’t lend outside of the Chicago area. I spoke to them today. Just a heads up for anyone else who comes across this thread.

Cook, dupage, Kane, and Will counties is all they deal with. $100,000 loan minimum. First time investors they want $25,000 cash down minimum on a $100,000 loan.

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  • Account Closed
    Lender · Milpitas, CA · Member since 2016 · 376 posts · 248 votes
    5y

    Hi @Stephen Jones, I'm not sure if lenders can reach out via the forum because of the regulations against soliciting people on this platform, but happy to answer any general questions that you might have about hard money loans!

    0Reply
  • Stephen Jones
    OP
    Rental Property Investor · IL · Member since 2019 · 285 posts · 137 votes
    5y

    @Sean Pan-

    Awesome man, is there anyway you can send me a message on my inbox? Thanks for the help

    0Reply
  • Michael Kinsella
    Lender · Member since 2018 · 617 posts · 275 votes
    5y

    Hi Stephen,

    The 'Network' tab on BiggerPockets has a list of hard money lenders and you can search by state. It won't give you southern IL specifically, but it's a reasonable starting point.

    Best,

    Michael

    2Reply
  • Stephen Jones
    OP
    Rental Property Investor · IL · Member since 2019 · 285 posts · 137 votes
    5y

    @Michael Kinsella-

    Thanks man!

    1Reply
  • Mark F.Pro Member
    Rental Property Investor · Elgin, IL · Member since 2016 · 326 posts · 270 votes
    5y

    @Stephen Jones, I've used Renovo Financial they are local out of Chicago and have top notch customer service and always come through. Think I've done 10+ loans with them in the last 1.5 years. Eric Workman is the VP of lending and will get you on the right track, let me know if you need his contact information. 

    Mark 

    2Reply
  • Scott DixonPro Member
    Rental Property Investor · Champaign, IL · Member since 2012 · 192 posts · 74 votes
    5y

    @Stephen Jones DM me and we can talk through what you have going on. Thx!

    1Reply
  • John Burtle
    Real Estate Broker · IL · Member since 2016 · 284 posts · 178 votes
    5y

    @Mark Faustrum

    Renovo won’t lend outside of the Chicago area. I spoke to them today. Just a heads up for anyone else who comes across this thread.

    Cook, dupage, Kane, and Will counties is all they deal with. $100,000 loan minimum. First time investors they want $25,000 cash down minimum on a $100,000 loan.

    3Reply
  • Mark F.Pro Member
    Rental Property Investor · Elgin, IL · Member since 2016 · 326 posts · 270 votes
    5y

    @John Burtle Ah ok, good to know thanks for the update. For anyone within the area they lend in I highly recommend them. 

    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    5y

    @Stephen Jones - I think at @Michael Kinsella mentioned it but I would start with the Illinois biggerpockets tab. Here is the link: https://www.biggerpockets.com/...

    I'd also recommend tagging some of the bigger cities near you so if people have keywords saved it will pop up and they can help. Probably Carbondale, Marion, Herrin, etc.

    [email protected]
    Quality Builders4.968 Reviews
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