Looking for hard/private money lenders

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Looking for hard/private money lenders

Lucas VanroboysPro Member
Boston, MA · Member since 2023 · 37 posts · 21 votes

I have a fully paid off property in South Boston and am looking to leverage the equity into additional propertie(s) via line of credit. Looking for hard money or private lenders who may be interested in working with me either or both, LOC and mortgages.
 

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George Post
Lender · Boston · Member since 2018 · 53 posts · 21 votes
1y

@Lucas Vanroboys Hey man! Sounds like you have "a good problem" on your hands lol! But probably frustrating none the less. We have some outside the box primary residence cash out options (would not be a line of credit however), but you could tee one up if you saw an opportunity to purchase something with a DSCR loan. Interested in that futures contract. We have helped athletes in the past.

Happy to chat - 781-534-8071. I have 7 doors in Hull MA!

Cheers,
George

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y

    Hey Lucas, 

    Is there a specific reason why you are considering the Hard Money route? Have you tried traditional financing? 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
    • Lucas VanroboysPro Member
      OP
      Boston, MA · Member since 2023 · 37 posts · 21 votes
      1y
      Quote from @Erik Estrada:

      Hey Lucas, 

      Is there a specific reason why you are considering the Hard Money route? Have you tried traditional financing? 


       Response is below. Still getting used to this platform!

      0Reply
  • AJ ExnerPro Member
    Lender · Springfield, MO · Member since 2023 · 651 posts · 314 votes
    1y

    Hey Lucas,

    Not seeing much in regards to LOC offerings these days, but a lower leveraged DSCR loan could be a good fit to draw out that equity. I'm guessing that you have the property rented out currently? And is it 4 units or less?

    [email protected]417-427-2612
    0Reply
    • Lucas VanroboysPro Member
      OP
      Boston, MA · Member since 2023 · 37 posts · 21 votes
      1y
      Quote from @AJ Exner:

      Hey Lucas,

      Not seeing much in regards to LOC offerings these days, but a lower leveraged DSCR loan could be a good fit to draw out that equity. I'm guessing that you have the property rented out currently? And is it 4 units or less?


       It is single-family condo (3 bed, 3 bath) and yes it's fully rented even tho it's technically my primary residence.

      0Reply
    • AJ ExnerPro Member
      Lender · Springfield, MO · Member since 2023 · 651 posts · 314 votes
      1y
      Quote from @Lucas Vanroboys:
      Quote from @AJ Exner:

      Hey Lucas,

      Not seeing much in regards to LOC offerings these days, but a lower leveraged DSCR loan could be a good fit to draw out that equity. I'm guessing that you have the property rented out currently? And is it 4 units or less?


       It is single-family condo (3 bed, 3 bath) and yes it's fully rented even tho it's technically my primary residence.


      So if you went in that direction, the first step would definitely be to establish residence (via utility bill/ID/etc.) somewhere else so that you could leverage Investment Property loans of some kind (DSCR/HML/etc.). Then you should be good to go.

      Otherwise, if you were to find a local bank, they might be able to offer up a nice little HELOC of some kind. That is where I had opened one up for myself, was a local bank/CU.

      Would be happy to point you where I could on the IP loan side of things if you were interested in going in that direction.

      [email protected]417-427-2612
      0Reply
  • Lucas VanroboysPro Member
    OP
    Boston, MA · Member since 2023 · 37 posts · 21 votes
    1y

    Yeah, traditional lenders don't have the creativity or flexibility to navigate my limited w-2 income history (first year out of university), boarder income I get from renting rooms in my primary or future contract values (professional athlete). I've just had a very frustrating experience the last couple months trying to navigate this space and get stuff done. I find it slow moving and restrictive so want to explore the private market.

    0Reply
    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      1y
      Quote from @Lucas Vanroboys:

      Yeah, traditional lenders don't have the creativity or flexibility to navigate my limited w-2 income history (first year out of university), boarder income I get from renting rooms in my primary or future contract values (professional athlete). I've just had a very frustrating experience the last couple months trying to navigate this space and get stuff done. I find it slow moving and restrictive so want to explore the private market.


       Okay I see, 

      Have you looked into DSCR lending? Lenders will not look at your personal DTI to qualify. As long as the rental income covers the PITI and your FICO is above 620, you have a loan.

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
    • Lucas VanroboysPro Member
      OP
      Boston, MA · Member since 2023 · 37 posts · 21 votes
      1y
      Quote from @Erik Estrada:
      Quote from @Lucas Vanroboys:

      Yeah, traditional lenders don't have the creativity or flexibility to navigate my limited w-2 income history (first year out of university), boarder income I get from renting rooms in my primary or future contract values (professional athlete). I've just had a very frustrating experience the last couple months trying to navigate this space and get stuff done. I find it slow moving and restrictive so want to explore the private market.


       Okay I see, 

      Have you looked into DSCR lending? Lenders will not look at your personal DTI to qualify. As long as the rental income covers the PITI and your FICO is above 620, you have a loan.


      I have heard of them, but I don't really know where to start searching for them. Most traditional lenders I've talked with so far promote or mainly talk push FHA/Conventional products... which I've struggled with. Very curious to learn more and see how they could apply to my situation tho. The concept is very straight forward and exciting. Maybe you could point me in the right direction?

      1Reply
    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      1y
      Quote from @Lucas Vanroboys:
      Quote from @Erik Estrada:
      Quote from @Lucas Vanroboys:

      Yeah, traditional lenders don't have the creativity or flexibility to navigate my limited w-2 income history (first year out of university), boarder income I get from renting rooms in my primary or future contract values (professional athlete). I've just had a very frustrating experience the last couple months trying to navigate this space and get stuff done. I find it slow moving and restrictive so want to explore the private market.


       Okay I see, 

      Have you looked into DSCR lending? Lenders will not look at your personal DTI to qualify. As long as the rental income covers the PITI and your FICO is above 620, you have a loan.


      I have heard of them, but I don't really know where to start searching for them. Most traditional lenders I've talked with so far promote or mainly talk push FHA/Conventional products... which I've struggled with. Very curious to learn more and see how they could apply to my situation tho. The concept is very straight forward and exciting. Maybe you could point me in the right direction?


       Happy to connect

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
  • Patrick Roberts
    Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
    1y

    The property being your primary residence will kill most DSCR/hard money/ABL options as these are business-purpose only. The wall youre hitting is that when the property securing a loan is your primary residence (a dwelling), the loan becomes a consumer loan and must comply with Dodd Frank and consumer finance laws, primarily with the Ability to Repay (ATR) rule.

    You will need to establish residency elsewhere prior to being eligible for any business-purpose loan. Also, boarder income (SRO/Single-Room Occupancy) adds another layer of complexity to this. 

    0Reply
    • Lucas VanroboysPro Member
      OP
      Boston, MA · Member since 2023 · 37 posts · 21 votes
      1y
      Quote from @Patrick Roberts:

      The property being your primary residence will kill most DSCR/hard money/ABL options as these are business-purpose only. The wall youre hitting is that when the property securing a loan is your primary residence (a dwelling), the loan becomes a consumer loan and must comply with Dodd Frank and consumer finance laws, primarily with the Ability to Repay (ATR) rule.

      You will need to establish residency elsewhere prior to being eligible for any business-purpose loan. Also, boarder income (SRO/Single-Room Occupancy) adds another layer of complexity to this. 


       Very helpful, thanks. 

      I am thinking I can use the primary to get a revolving LOC to fund future investments and as my source of liquidity going forward. Not trying to DSCR the primary. Then definitely going to create LLC's for future investment properties and thinking of financing the purchase's with a combo of LOC liquidity and hard money or bridge loans and then re-fi into a DSCR after rehab. Could go straight to DSCR if there is no significant value add rehab too. Essentially wanting to do a BRRRR with the LOC as liquidity source.

      I could be very wrong with this so I'd love to hear your thoughts on this rough plan. Key word in there is "rough" as I don't really have connections or a network to make this happen, specifically bridge or hard money loans. 

      1Reply
    • Patrick Roberts
      Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
      1y
      Quote from @Lucas Vanroboys:
      Quote from @Patrick Roberts:

      The property being your primary residence will kill most DSCR/hard money/ABL options as these are business-purpose only. The wall youre hitting is that when the property securing a loan is your primary residence (a dwelling), the loan becomes a consumer loan and must comply with Dodd Frank and consumer finance laws, primarily with the Ability to Repay (ATR) rule.

      You will need to establish residency elsewhere prior to being eligible for any business-purpose loan. Also, boarder income (SRO/Single-Room Occupancy) adds another layer of complexity to this. 


       Very helpful, thanks. 

      I am thinking I can use the primary to get a revolving LOC to fund future investments and as my source of liquidity going forward. Not trying to DSCR the primary. Then definitely going to create LLC's for future investment properties and thinking of financing the purchase's with a combo of LOC liquidity and hard money or bridge loans and then re-fi into a DSCR after rehab. Could go straight to DSCR if there is no significant value add rehab too. Essentially wanting to do a BRRRR with the LOC as liquidity source.

      I could be very wrong with this so I'd love to hear your thoughts on this rough plan. Key word in there is "rough" as I don't really have connections or a network to make this happen, specifically bridge or hard money loans. 


      Generally speaking, this plan is workable. Get a Heloc on the condo while you still have it as a primary (finding a lender who will offer a Heloc on a condo is another story), and then use this as emergency liquidity. Try to pile up some actual cash as well. You can use DSCR loans for purchases at 80% LTV on tenant ready properties, or potentially use hard money + cash to buy distressed and rehab, then refi with a DSCR. Start networking with lenders in your area now to get into the weeds of what it will take to prequal you for options like these.

      1Reply
  • George Post
    Lender · Boston · Member since 2018 · 53 posts · 21 votes
    1y

    @Lucas Vanroboys Hey man! Sounds like you have "a good problem" on your hands lol! But probably frustrating none the less. We have some outside the box primary residence cash out options (would not be a line of credit however), but you could tee one up if you saw an opportunity to purchase something with a DSCR loan. Interested in that futures contract. We have helped athletes in the past.

    Happy to chat - 781-534-8071. I have 7 doors in Hull MA!

    Cheers,
    George

    1Reply
  • Kenneth Malloy
    Lender · Houston, TX · Member since 2024 · 85 posts · 8 votes
    1y
    Quote from @Lucas Vanroboys:

    I have a fully paid off property in South Boston and am looking to leverage the equity into additional propertie(s) via line of credit. Looking for hard money or private lenders who may be interested in working with me either or both, LOC and mortgages.
     


     Glad to help check your options on getting your future deal funded. Let's connect

    0Reply
    • Lucas VanroboysPro Member
      OP
      Boston, MA · Member since 2023 · 37 posts · 21 votes
      1y
      Quote from @Kenneth Malloy:
      Quote from @Lucas Vanroboys:

      I have a fully paid off property in South Boston and am looking to leverage the equity into additional propertie(s) via line of credit. Looking for hard money or private lenders who may be interested in working with me either or both, LOC and mortgages.
       


       Glad to help check your options on getting your future deal funded. Let's connect


       Sure thing. Give me a text/call at 513-461-5954 or email [email protected]

      0Reply
  • Jessica Fletcher
    Member since 2025 · 16 posts · 0 votes
    1y

    Hi, Lucas! Magnetize Funds provide quick and reliable real estate funding to get your project moving. Let’s chat—DM us now! (626) 737 2921

    0Reply
  • Jeffrey BlackmanPro Member
    Lender · Chicago, IL · Member since 2017 · 107 posts · 34 votes
    1y

    @Lucas Vanroboys, I'm a licensed mortgage broker and an investor. I'm happy to help think/talk through your options. I think both conventional and DSCR loans could be on the table for you. However, with a DSCR, you would need to establish a residence somewhere else. DM me, or give me a call.

    Jeff

    0Reply
  • Jacob Stoltzfus
    Member since 2025 · 11 posts · 0 votes
    1y

    Hi Lucas!

    I would like to discuss this with you and see how I can help you out. Let's connect!

    0Reply
  • James Copell
    Member since 2025 · 15 posts · 1 vote
    1y
    Quote from @Lucas Vanroboys:

    I have a fully paid off property in South Boston and am looking to leverage the equity into additional propertie(s) via line of credit. Looking for hard money or private lenders who may be interested in working with me either or both, LOC and mortgages.
     


    I believe I can get you 10 and 1, maybe 1 1/4. They are new lenders to Massachusetts, Rhode Island and New Hampshire. One needs 50 LTV on either the target or a cross collateralize asset. They have a lot of money.

    0Reply
  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    You can go with a traditional lender for a cash out refi or equity line that has more favorable rates. Try local CUs or banks that operate around Southie!

    [email protected]
    The Elle Group5154 Reviews
    WebsiteView Page
    1Reply
  • Steven Baum
    Member since 2025 · 146 posts · 4 votes
    1y

    I'm interested, I think I have someone who can help.

    (208) 732-2326‬
    [email protected]

    0Reply
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