Thanks Antoine. I haven't looked into that and am doing it now. Have you used one before? So far, the one I looked at is lending just to partnerships, LLC, Corps. Do I have to legally form a partnership before asking for a loan? Is there any Hard Money Lender that lend to individuals?
No, I'm not owner occupying which is why we couldn't do the 203k rehab. However, HML only lend to corporations, LLC, and partnerships. I am just an individual looking to rehab an investment property that I hope to pay in cash, so looking for HML that works with individuals. Ideas?
There are many hard money lenders that lend to individuals. Most are more like private lenders in that they want to know you on a personal basis. If you have time with your deal I suggest you go to REIA meetings and any Meetups in the area dealing with real estate investing as tell people about your goal. If you were in the Hot Springs, Arkansas area as a lender I would definitely be interested in talking to you.
Thanks Kathie, didn't see your message earlier. Wish you were able to look at my deal. The offer is due tonight so no time. I have cash for the property but I would like to get more cushion for the renovations. I think I'll just bid low and hope it goes through. If by luck we get it, I won't have to worry about renovation cost too much.