OfflineIs hard money a good thing or bad, how does that work and would i have to mess with my good credit?
I'm searching forms now for more info... I have deals that I want to do out I have a funding issue.
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***Ms. Highly Favored***
Hello A.
I know there are some hard money lenders out there that are not going to be concerned about credit whether good or bad because as long as you have a worthwhile deal (and they will tell you if they think it is not a good deal) and they like the house you have located, and the amount they will be loaning out is far below the value of the home then you have a deal.
The reason why they don't care about the credit is just the hard cold facts that if you default then they get the house. The only way you would negatively affect your credit is if you default. A few months back I had an interview with a hard money lender and he said that he only will lend on a house that HE WANTS because in their business 60% of these don't work out.
Roger
Jaguar Investment Group
URL for Journal : http://www.deangraziosi.com/real-estate-forums/investing-journals/43293/...
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Wow..Great Info Roger,thanks you:) I'll see If i can speak with him and determine what steps i would need to take.
***Ms. Highly Favored***