Investor · Austin, TX · Member since 2015 · 35 posts · 2 votes
Hi BP,
Working on a cash deal in North Austin Texas area and looking for a hard money lender for a none-recourse loan.
Need money ready by 5/12. House is only 10 years old and in a developing side of town
Please call me at 2814513911 if you are interested.
Chris
@Bryan Hancock Thanks Bryan. For this deal, yes, because it'll need to be quick to execute and fund. If I more time, then traditional loan is fine. Surely I'll keep these you've mentioned.
If you email me I can introduce you to Andrew Miller at CLS as well. He brokers loans for a living and pretty much knows every lender in town. If there is someone that can fund your project he'll know who they are.
We're setting up a hard money fund called Gentry Lending Group right now, but it isn't ready to fund projects yet.
@Account Closed Hi Charles. It's actually the opposite. Non-recourse loan. When I don't pay, they take the house. I don't have to personally guarantee it; thus not impacting my credit. However, these are usually higher interest rates. It's good when you have a lot of properties where my credit won't hold up against 15 to 20 loans. Not that I have that amount.
Are you using your IRA account and that's why you need non-recourse? How long are you looking to hold the property? I have a couple of non-recourse programs. The interest rate is 1% higher.