Hard Money Lending & Credit Scores

[Brandon Mix]

My girlfriend and I are about to form an LLC together for our flipping business. And although I have done several deals and rehabs pre-2008 (so it's been a while. lol), my credit is not that great right now. However, my girlfriends credit is phenomenal.

I have never had to use a hard money lender in the past, but we will be using them coming up very soon. My question to all those that are familiar with hard money lending requirements is, will we have a problem securing hard money loans (assuming the deal is a great deal) for our rehabs given that my credit is not great and that I am a partner in the LLC? Or should I not be an owner in the LLC?

We spoke to one hard money lender a couple months ago and he said that I should not add myself as an owner in the LLC because of my credit. Again, my girlfriend (the other partner in the LLC) has phenomenal credit.

And if you know of any hard money lenders that will work with our situation, please let me know their contact info.

Lastly, I do want to say that we have cash to put into our deals. So if there is a gap in our financing, we can cover this along with any contingencies that usually arise during rehabs. 

Any guidance in this area will be greatly appreciated. Thanks in advance!

Brandon & Tonya