Loans hard money or private lending needed

[Lisa Hartman]

I bought my first rental property 3 years ago and it is doing well. Then I bought my second and it became unmanagble. Paid 29 thousand and then lost my shirt in the rehab. Ruined my credit. Now I just want to sell that house, now that it is finished. I found a new property I want but my credit is terrible. I plan on taking 20 thousand out of investments for a down payment and the price of the house is 50 thousand. How can I get a loan when I have been turned down by traditional lenders. New to this site and not sure what a hard money lender is. I have 56 thousand left in investments and don't want to touch that. So I have loan collateral of 56 thousand and a house. Traditional lenders in Maryland will not consider me. I need the loan for 2 years at most. If the house sells quickly the loan does not have to be for a long time. And if it doesn't sell then I would rent it and use the proceeds to pay on the loan and do rehab on the new property.

Lisa