Hard money lender ok with less than $100k of loan value

[Ioulian Stoitchkov]

Hi all,

I'm looking for hard money lenders ok to lend in Baltimore, MD who do not need min of $100k of total loan value. I recently came across few projects that would be in the $80k loan value (purchase and rehab). The hard money lenders I have been using required $100k min loan.

Thank you!

[Jay Hinrichs]

Quote from @Erik Estrada:

Quote from @Ioulian Stoitchkov:

Hi all,

I'm looking for hard money lenders ok to lend in Baltimore, MD who do not need min of $100k of total loan value. I recently came across few projects that would be in the $80k loan value (purchase and rehab). The hard money lenders I have been using required $100k min loan.

Thank you!

 Yes you can secure a hard money loan with less than 75k value even. The trade off is that the lender will require a high minimum loan amount. At least $150k-$200k. I typically see these working out on portfolios that need heavy rehab. 

I have personally done over 250 funding's in Balt city and majority are 100k and under I wont go much over 125k in the city with those row houses.. its my niche.. but keep in mind pricing does not follow down exponentially when loan balance get lower.. I mean who is going to lend money at 2 points on a 50k deal and make a whopping 1k loan fee.. NOT ME LOL.. We are very strong in that particular city and have a very unique funding model.. did three last week alone.
One was only 33k.. I leave all the bigger deals to the bigger companies.. :)  Keep in mind its private money as in my money !!! I dont broker or any of that stuff.. I don't do appraisals etc etc.. I know the city by block and the values so no need for all the formalities.. But what I dont do is deals for newbies .. you to have some experience and know what your doing.