I have some clients who are actively looking for someone who does hard money loans in the Indianapolis / Central Indiana area. Anyone have any contacts?
Give me a call or e-mail, I might be able to help.
Stacy, would you please (generally) outline your hard money terms here?
I am just passing along other hard money lender's info.
In general terms they are looking for a strong exit strategy, 6 points and 18-24% rate. If the deal makes sense, rehab and payments may be included. The term of the loan varies but most of these hard money lenders are being paid back in less than 4 months.
I use the money when I have a property already sold and am just filling an order. There is enough room in deals here in Indianapolis, IN that it makes sense.
If you are loaning at better rates/terms please let me know and I can line up a few investors. Mostly commercial but some residential rehabbers.
Stacy, these are the highest Hard money rates I've seen, just curious, I thought there were some regulations on how much could be charged. Jim