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Updated almost 8 years ago on . Most recent reply

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Khalil Hakim
  • Atlanta, GA
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Need a lender I have equity but I have bad credit

Khalil Hakim
  • Atlanta, GA
Posted
I am in need of a hard money lender in Houston but my credit is Bad. I have equity and cash to finance up to 40% of all flip expenses.

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Cody L.
  • Rental Property Investor
  • San Diego, Ca
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Cody L.
  • Rental Property Investor
  • San Diego, Ca
Replied
Originally posted by @Khalil Hakim:

I am in need of a hard money lender in Houston but my credit is Bad. I have equity and cash to finance up to 40% of all flip expenses.

PM me. I do some private lending. My criteria is simple:  If this person stopped paying, and I had to take the property, would I be fine with that?  If so, I do it.  I don't care if the person has 800 credit or 0.  If 'worse case' is I get a property that's worth more than my loan, it's 0 risk. 

(I remember trying to refinance properties I had in cash when lending was difficult. Banks would give me all these objections. I'd be like "Then finance me at 50% LTV. Then if I don't pay, Merry Christmas to you". But none would. Idiots ;)

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