How does a newbie find a good hard money lender?

[Christopher Lane]

Hey there team,  So I've talked to some lenders and want to get pre-approved for 100k.  

Long story short I found a duplex with each unit being sold separately by the same seller whos asking $60k each. Each unit generates $1100 a month each and are currently occupied. I want to offer $75k and negotiate from there but I am a reservist in the military and only take 6 month long deployment orders and cant "hold a job longer than 6 months" according to a certain lender. Even though I make $12k/month while overseas they still want to see 12 months of solid employment. I have a HELOC for $35k and $11k in a retirement account I'm willing to use also.

What should I do?

Is this the time to seek a hard money lender, or maybe private money?

Thanks!

[Christopher Lane]

Originally posted by @Roman M.:

In my opinion, you should not have any issues getting hard money loan if you put 35% down. Since you have $35,000 in HELOC, you can use it towards down-payment. I personally will have no problem lending my own money with 35% down at hard money rates.

 I agree, but I'm not sure I want to put all my money into one deal.  I want to have some money in reserve.  Or should I buy it, and turn around and refinance it next month?