Hard money lender with a twist??

[Ray Egan]

Hello all....

I will be needing the services/help of a hard money lender in the coming months as I am embarking on my third single-family home--flip--, here in Miami, Florida. 

I have found one online that allows me to live in the property as I renovate (my business model and the main point here), but awful YELP reviews have me steering away from them (Athas Capital). That, and they have not responded to 2 emails over the last week-and-a-half, one very detailed, stating my case......

I understand the hesitance of lenders not wanting a sheet of drywall falling on your head during fix-up, and then not being able to pay your hard money lender back because of severe head trauma, but that can happen anywhere... You could be in your main residence and have a sheet of drywall fall on your head as you redo one of your bedrooms....how is that different?

Anyway, if anyone has any insight into a trustworthy lender who really wants to help (and make money too), I would be interested to hear any of your ideas/contacts.

Thanks for listening...

Ray

Miami, Florida

[Chris Seveney]

Ray Egan
I think two questions come up which are:

1. You buying it with an LLC
2. What are you doing with it after rehab

A hard money lender runs into issues with Dodd frank on owner occupied properties and lending to them. If it is bought with an LLC AND your plan is to flip it or rent it then you may find someone.