Hard Money Help in Michigan

[Jim Meloche]

Good afternoon BP. I’m looking for a good hard money lender in Michigan. If anyone has a lender they’ve worked with recently and trusted, I’d appreciate making a connection.

I'm looking at putting together my third deal (a SFR flip) in the past 18 months. The first two were done with conventional financing, and since I have loans on my personal residence and a vacation rental, this next deal will likely have to work with hard money. I have two possible deals in the pipeline that will make money, according to my mathematical projections and ARV calculations.

I haven't worked with a HML before, and I am finding a rather strange thing with HMLs – they're impossible to get a hold of. I've put in calls to 6-7 and heard back from one. Some don't call back when they say they will. Others I can't seem to get a response at all. I swear it's like trying to get a call back from a concrete contractor! These HML contacts came from a local REIA group, and from online. I haven't run the numbers past any of them, so I'd have to rule out that they weren't interested in the deals. I don't know if I'm just calling folks who don't lend anymore, aren't on the "up and up", or just aren't real good about follow up. Or maybe I just need better message leaving skills. J

If I'm relying on a HML to help me close a deal, I'd sure like one I can have some confidence in. Any help is appreciated. Best wishes to all.

Jim