Hard Money Lending After Corona

[Chad Stark]

Anyone having any luck with hard money lenders?  All lenders have changed their rates and terms last minute because the investment bankers are not buying.  Instead of 10% down on a fix and flip I am quoted 20-35%.  Instead of 20-25% down on rental loan, I'm being told all rental loans are on "pause"

The only lender I am having luck is one who has their own capital. 

Does anyone have recommendations on lenders who use their own capital?

[Alex Bekeza]

@Chad Stark Appraisers, Title, etc are an essential service but are still backlogged by an insane amount of refinance volume and the general limitations of contact with others right now.  Your local market (MO) is, from what I understand, much less restricted than the majority of the country right now (I just closed a deal in STL last Monday and submitted one that has been paused in KC last Thursday.  I have a few dozen HM deals that span over ten states on hold as lenders decide how to restructure their pricing and leverage offerings in light of this pandemic.  I'm remaining optimistic but everything points to us heading towards a more restrictive lending environment. Check back in with me in a few weeks and I'll be happy to share what I'm hearing from the inside.  Some of the nations biggest wholesale lenders have announcements scheduled for this week and next to provide a status update on resuming operations and current pricing/max leverage.