OfflineHey everyone!
I need help. After months and months and months and months... well you get the idea... of seazrching, I found a killer deal. However, now I am faced with the fact that I can't get financing. So, I am turning to you, my favorite people!!! If you help me out, I will love you y'all even more!
Does anyone know a good hard money lender who can finance a purchase of a house for $60K that can be sold within a month for $200K?
Any references will help!!! Thanks in advance.
Yuri
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-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
What state are you in? You can call Bob at Coastal Funding for CA loans. His number is (858) 866-0213. I also saw a hard money lenders list somewhere on this site a while back.
I am in the same situation and looking for funding. But the terms of the HML's make it difficult to find deals that will work.
Best of luck,
Wendy
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com
Are you searching with conventional or private HML's?
Unfortunately I do not have any companies to refer you I wish I did. I have not yet used any. But I would say to definitely look for private HML's, they will finance much cheaper investments then conventional will. Private will also require a smaller down payment.
Sorry I cannot be of more help. Good luck!
-Mike Hutchins
Coastal-Funding provides transactional funding, or "one day dough", meaning they will wire in funds for a fee. These funds are used for a double closing and expire in 24hrs. Versus a HML who loans at a high interest rate for an extended period of time.
Hope that helps clarify.
-Mike Hutchins
Thanks for your posts. I am looking for something that I can get and hold. I am not looking for double closing or assignment. So, Coastal won't work in my case.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Did you try www.brookviewfinancial.com
Anita said they do most of the HML loans out there.
Maybe they can be flexible if the numbers are a smokin deal.
Jason S.
San Diego, CA.
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I will try them first thing monday morning.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Try this guy. Not sure if he does NY but worth a try. Tell him I sent you.
James Lee
Compass North Corporation
650 Sentry Park
Blue Bell, PA 19422
610-986-6650 cell
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
Thank you very much. Will call him first thing Monday morning.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --