Hard Money Lenders

[Tyquan Fleming]

Where do I locate hard money lenders in the state of Arkansas or near by and would experience be a huge problem when it comes to creating the partnership?

[David Ramirez]

Reach out to @Austin James Weed! Great guy 

[Ko Kashiwagi]

Hi Tyquan,

There are lenders out there that does not require experience!

[Jacob Sherman]

Would love to connect and discuss some options

[Mary Ann Austria]

Happy to help. Send me a DM

[Anderson S.]

Hi Tyquan, we're a hard money lender and we operate nationwide. How can we help?

[Mike Calvey]

I would suggest using our Find a Lender service which is free for you to use in order to find a trusted and vetted hard money lender directly from BiggerPockets. 

[Ryan Davies]

Most work this way: 

• Rates: 9% to 13% (Most Deals are 11-12%)
• Terms: up to 36 Months (Most Deals are 6-12 months)
• Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
• Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
• Max Loan: 65%-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

[Katie Smith]

Hi Tyquan! I just closed a deal in Arkansas! What area are you looking in? Do you have a specific property in mind?

I work with new investors all of the time. I am very much a hand holder with new investors and will walk you through the entire process so that you understand it all. If you don't have an LLC created yet - I would jump on that ASAP. You will need the LLC to be registered, get an Operating Agreement in place, and file for your EIN number. If you have multiple people on the company, you ideally want the person with the highest credit score to have the most ownership percentages.

[Travis Main]

Hey Tyquan, 

An important aspect to note regarding investing in Arkansas is the relatively lower property values. Many lenders typically establish their minimum loan sizes at around $100,000, encompassing both the initial loan amount for the purchase price and any needed rehab expenses. It's essential to ensure that the properties you're considering investing in meet these minimum thresholds.

[Tyquan Fleming]

Quote from @Katie Smith:

Hi Tyquan! I just closed a deal in Arkansas! What area are you looking in? Do you have a specific property in mind?

I work with new investors all of the time. I am very much a hand holder with new investors and will walk you through the entire process so that you understand it all. If you don't have an LLC created yet - I would jump on that ASAP. You will need the LLC to be registered, get an Operating Agreement in place, and file for your EIN number. If you have multiple people on the company, you ideally want the person with the highest credit score to have the most ownership percentages.

I currently am looking to invest in the Little Rock area as of right now and possibly the pine bluff area depending on the deal! I have a couple properties in mind at the moment but is still working on evaluation.