All Forum Posts by: Judy Rae

I spoke with PayPal once about considering them for my vacation rentals.  They flat out told me they offer the vacation rental owner NO protection when accepting money for rentals using PayPal.  That was the end of that conversation.  If they have the proof your friend should take the tenant to small claims court so at least they can get a judgement against them.  PayPal most likely won't help them at all.

I am a Direct Hard Money Lender in California.  I just received a call from a client in Atlanta who is a builder. He built a home with a value of 2.1 million and wants to borrower around $900,000. It is vacant and he is going to sell it so would not want a pre-pay. Is looking for 8%-9% with 2 points. Any Atlanta lenders out there that can help?

I own and rent short term in Cathedral City ( in the Cove section ) The property gets rented out all the time.  It totally pays for itself and allows me a second home.  Actually a 3rd home as I also have a vacation rental in Fort Lauderdale. 

As long as the home is priced right and has a pool and is of course appealing to the eye you should be fine. Depending on of course your monthly mortgage.  But don't be afraid to buy in Cat City.

Hi Jay,

No.  I am not referring to lendinghome.

To add to Ruben's comment Patch of Land is a great company.  But then again, not to toot my own horn.... I am not exactly chopped liver either.  I welcome being put to the test any time!

That could be very true .  As my name implies California and my private investors funding loans in California are happy to make 8% to 10%. But I also work with a fund  that does loans  all over the country  and interest rates start at 7.99%  including the South and the Midwest.

If you can qualify for a HELOC that is a great option because you only use the money you take out. If you cannot qualify then using a Hard Money Lender is a good quick option. If you have FICO above 650 there are low interest rate programs as long as the property values are high enough. I would need to know more about your values and such.

Just curious to ask what happened that made you a believer that all Hard Money lenders were scammers?

Sunny there are a ton of great lenders posting here.  Just do your research on each one.  You can check google+ reviews and contact the Bureau of Real Estate to see if any complaints have ever been recorded.

If you want to stay in California and be totally passive you  may want to consider being an Investor with any number of Hard Money Lender in the State of California.  10% returns on average is what you can expect.