Updated over 5 years ago on . Most recent reply
Finding Hard Money Lenders
My business partner and I have started a REI company in the Charlotte area. We are looking to turn over some properties and hold some for appreciation and rental value. This post is in reference to the turning over facet or flipping. We have procured nice funding to cover ops and "skin in the game" costs, etc. What we are having a tough time with is finding a true HML that value deals based on the deal.
I have contacted approx 8 regional HML's to find that they are still basing loans on personal finance, personal assets, credit scores (ours isnt bad). Are they're actually any HML out there that base on a property value or the value of the deal itself? We have the cash to handle the down payments and such.
Most Popular Reply
You should investigate CREIA. It is the Asheville REIA. They have a Private Money sub group where local borrowers and lenders meet.