If they aren't worth your uncle's inflated price, why would a bank lend on that....

I have heard quite a lot about hard money lending and I was wondering if anyone could be so kind as to point me in the right direction as far as finding a private or hard money lender to finance the deal.

I guess it’s a culture thing  when I worked for a big syndicator in the 80s.. they kept having fires .. turned out some of the folks that came in after the war were using the sink in the bathroom to put coals in it and cook their BBQ right there.. it was a mess and this probably pre smoke alarm days..

I took a look on your website and I saw that you eventually transition from turnkey rental to syndications which is great food for thought!

I’ve dealt mostly with credit unions, but they’ve all been willing to lend to an LLC.  

He asked me as an investor because it had too many repairs for a bank to lend on it. 

Traditional lending is too expensive here, so private lending or partnerships may work.

Watch Hill Bank is another good one who will lend in that area.

If you can't get approved through a standard lender try seeking portfolio lenders or small local banks that keep their loans in house and can be more flexible with their lending standards. 

We most certainly do not see assumable loans unless it is commercial, so in conventional residential lending it's not very common, if seen at all in my area