National Hard Money Lender for Flip

National Hard Money Lender for Flip

Real Estate Investor · Anchorage, AK · Member since 2015 · 117 posts · 42 votes

Hey guys,

I am trying to find less expensive financing for a flip I am doing here up in Alaska.  The hard money lenders in Alaska are very expensive (5 points and 12.5% interest) and I am looking for a national hard money lender that will lend to me Anchorage, AK.  Please let me know if you know of anybody!

-Connor

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Real Estate Broker · Anchorage, AK · Member since 2015 · 170 posts · 46 votes
10y

@Connor Maloney Try searching in the search for "Hard Money Lenders" or "Private Money Lenders."

There's quite a few guys on here that lend in AK that are cheaper than the local guys.

I'll put a reminder for myself tomorrow to e-mail a couple people I've found.

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  • Lender · Sherman Oaks, CA · Member since 2014 · 68 posts · 80 votes
    10y

    Alaska is pretty expensive but the guys I know of charge 4 points and 11%.  What is the purchase price and how much down payment do you have?

  • Real Estate Investor · Anchorage, AK · Member since 2015 · 117 posts · 42 votes
    10y

    The purchase price is $98,000 with $20,000 in rehab, very conservatively. The ARV is $160,000. I have about $15k for a down payment.

  • Lender · Chicago, IL · Member since 2015 · 608 posts · 70 votes
    10y
    Have you tried Seattle Funding Group who is a "true" private-money portfolio lenders that funds with its own money. No prepayment penalty. Lending in AK. Rates around 7.99% to 9.99%. I've never used them myself or any of my clients but Atleast you have another possible option. Let me know if they can help if not feel free to pm me.
  • Real Estate Investor · Anchorage, AK · Member since 2015 · 117 posts · 42 votes
    10y

    @Doran Summers,

    I have not heard of them before, but those sound like good rates.  Thanks for letting me know!

  • Lender · Chicago, IL · Member since 2015 · 608 posts · 70 votes
    10y

    @Connor Maloney. You welcome. Anything to help. Keep me posted as I may start using them for a few states.

  • Real Estate Broker · Anchorage, AK · Member since 2015 · 170 posts · 46 votes
    10y

    @Connor Maloney Try searching in the search for "Hard Money Lenders" or "Private Money Lenders."

    There's quite a few guys on here that lend in AK that are cheaper than the local guys.

    I'll put a reminder for myself tomorrow to e-mail a couple people I've found.

  • Real Estate Investor · Anchorage, AK · Member since 2015 · 117 posts · 42 votes
    10y

    @James Cash,

    Thanks for the tip and I would appreciate any help you can provide me with!

    -Connor

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