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Updated over 12 years ago on . Most recent reply

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SHANNON SIDBERRY
  • Jacksonville, NC
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REAL hard money or private direct lender in NC

SHANNON SIDBERRY
  • Jacksonville, NC
Posted

Hello,
After much research with no solid prevail...
I am searching for a real hard money or private lender.
I am located in Jacksonville and have come across ALOT of great deals that have slipped thru my hands due to lack of proper funding, we are home of the largest Military base with a TON of qualified buyers. So looking for someone to build business relationship to do constant buy and flips.

One property in particular I am looking to fund. SFR appraised 125,000-135,000 need loan in 6 months for min of 90,000 min 1year term very minor repairs needed that have mostly been done and will be done out of own funds. Working on some credit disputed items so that has prevented traditional lending.

If this is something you would be interested in let me know.

MODERATOR: PLEASE, NO REQUESTS FOR FUNDING IN THIS THREAD.

Most Popular Reply

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Ann Bellamy
  • Lender
  • Tyngsboro, MA
2,367
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3,269
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Ann Bellamy
  • Lender
  • Tyngsboro, MA
Replied

SHANNON SIDBERRY, he's looking for specifics, not marketing hype.

For example: We typically find deals at X % of ARV
or
We are willing to pay as high as X % and X points
or, even better
We are willing to offer an interest payment of X percent and an equity split of X

A 90K loan on a property worth 125K is NOT attractive, and 1 year is too long for a loan on a property that needs minimal repairs. If you have "a TON of qualified buyers" you should be able to be in and out of a property with minimal repairs in 4 months, 6 max. An experienced flipper will be in and out even quicker.

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