Finding a hard money lender?

[Chris H.]

So I'm trying to find a hard money lender in Spokane, WA, but I don't know how to evaluate them.

I'd like to buy houses and fix them up all on hard money loans, then turn around and refi with a portfolio lender from full value.

I've met up with one in person at their office, (CLS Mortgage), but I'm not particularly impressed. They won't fund the repairs, and only up to 65% LTV on the house. Which requires me to raise 35% of the cost of the house + the repairs out of pocket before refinancing, which limits me only to really low-cost properties.

I've had a second recommended to me, The Northwest Group, but from their web site I'm suspecting I'll see the same thing. It notes 65% of LTV, but maybe they'll finance the repairs too. Dunno.

I found a private money listing
on Craigslist. If it's a private individual, can it be trusted?

I'm fairly new to this. Thanks for any help.