1,725,996
Hard Money Lenders are a last resort. Never heard of this group.
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Michael Jacobs
Pasadena, CA
4,572,183
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.
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Sandy Padula & Norm Pa...
, CA
7,836,139
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.
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Sandy Padula & Norm Pa...
, CA
4,434,127
I have not worked with any hard money lenders.
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Sandy Padula & Norm Pa...
, CA
2,362,977
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
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Sandy Padula & Norm Pa...
, CA
4,800,082
3,071,489
3,148
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.
699,277
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".
3,986,258
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.
20,279
Never worked with hardmoney lenders before but I have heard that they are higher than normal.