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Updated almost 5 years ago on . Most recent reply

Eric Smith's profile image
Eric Smith's profile image
Eric Smith
  • from Chicago, Illinois
  • Member since Feb 22, 2018
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Eric Smith's profile image
Eric Smith's profile image
Eric Smith
  • from Chicago, Illinois
  • Member since Feb 22, 2018
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Eric Smith
  • Chicago, IL
1
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7
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Mortgage Brokers & Lenders

hard time finding a hard money lender in chicago

Eric Smith
  • Chicago, IL
Posted

Has anyone had any luck with finding a good hard money lender in Chicago? All the lenders I have come across have 100k min purchase price for the south side. there are lots of deals with purchase prices under 75-50k and no one will lead on them even with great ARV.

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Al Bennett's profile image
Al Bennett's profile image
Al Bennett
  • from Kokomo, Indiana
  • Member since Jan 11, 2020
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Al Bennett's profile image
Al Bennett's profile image
Al Bennett
  • from Kokomo, Indiana
  • Member since Jan 11, 2020
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Al Bennett
  • Kokomo, IN
3
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11
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Al Bennett
  • Kokomo, IN
Replied

Eric, I'm just south of Chicago (Kokomo, Indiana). I'm also looking for a hard money lender who can help me with a sfh/3-plx conversion. Have you found one yet? My property is only 16000, but the rehab will run 95K, so my all in is more than the 100K. But most of the lenders I've spoken with also want a purchase price of 100K. Help!?

  • Al Bennett
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