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Tomeka Brown, MBA, Your Real Estate Partner & Property Resource Guru (Brownstone and Company, LLC)

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Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Hard Money Lenders are a last resort. Never heard of this group.

May 11, 2015 12:16 AM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Tomeka -- never heard of them but I would ask some reputable and local lenders if they can do such a loan.   The bigger question for me is why is someone who is looking to flip a home considering(or need) a hard money loan. Seems to be other priorities in life need to be addressed first.  Just my opinion.

May 10, 2015 11:58 PM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

There are many hard money lenders and the rates and fees are usually very high. I recommend that you let your clients make their own selection.

May 10, 2015 11:18 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not worked with any hard money lenders.

May 10, 2015 11:01 PM
Rainmaker
2,362,977
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I would stay away from hard money lenders for your clients unless they really know what they are doing and they have a very fast timeline for getting the property closed, flipped, back on the market and under contract. Profits disappear quickly with the cost of hard money

May 10, 2015 10:52 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have no knowledge of them.

Dec 01, 2018 06:36 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

We do not

Nov 19, 2017 02:51 AM
Rainer
3,148
Marco Bolado
Entrust Equity Funding, LLC. - San Antonio, TX

I have heard of them.  The only advise I would give is its in the clients best interest to stick with local companies who know the market when borrowing hard money.  Lenders who try to operate in this space at a national level usually aren't very efficient.  I'm a bit surprised by some of the answers here.  I have clients, even those with strong credit who use private/hard money for investments all the time.  They are looking to leverage financing to make a profit on RE and many times the collateral they're buying would never pass appraisal anyway.

Jun 19, 2015 05:05 AM
Rainmaker
699,277
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

If your customers wish to use a specific lender, it's their business.  When the first one falls flat you can tell the second one "my experience is...........but do as you wish".

May 13, 2015 03:42 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

If we have to start looking for odd sights for financing we are in trouble.  I don't work with anyone but local lenders and if a client wants to use the internet, I will tack on a hefty admin fee for all the issues I know will be coming.

May 11, 2015 06:02 AM
Rainer
20,279
Takia C. Walker
United Real Estate Columbia - Columbia, SC
Real Estate

Never worked with hardmoney lenders before but I have heard that they are higher than normal.

May 11, 2015 03:03 AM