NEW - source for finding investors and/or lenders

So like lendingtree but for commercial loans?? I have never thought about it but I am kind of surprised that there is NOT a site where the lenders pay the freight.

And couldn't a good mortgage broker do this for you as well?

I am sure they could but there may be times when time is of the essence and sometimes your broker may just have a lot of stuff on his plate so it never hurts to have other resources lined up. I am sure you can understand that.

But here is wha the site says it offers:

Business Loans
Equipment Leasing
Commercial Mortgage Loans
Over 325 Lenders Nationwide
$9.2 Billion Processed Monthly
Loans from $5000 to $50 Million
80,000 Businesses each Month
Loan, Mortgage, Lease TV Ad

Try this for locating Hard lenders and private money.

This is a HML that I know for a fact is good to work with. I have a friend that has used them more than 5 times in last 6 years with great results in each transaction.

http://hardmoney.cc/

5 Mistakes Almost Every Investor Makes when Borrowing Hard Money

1. Worrying about the interest rate.

Let’s face it, when you first hear the interest rates that hard money lenders charge thoughts of the mob loan sharks are conjured up. How come they can get away with such high rates? The fact is that the rates are not really that high considering the risk they take. They are providing you an almost cash free way to buy, fix and resell houses. And sometimes people not as diligent as you bite of more than they can chew. The investor is then left with a purple house with all the working
appliances, air conditioners and plumbing missing. Look at it this way. This money is a cost of doing business until you get your own little stash. And even then I would still use hard money lenders. Think of it as access to capital. It frees you to do the most important part of your job, which is to find below market houses. How many offers could or would you make if you never had to worry about money? I look at hard money lenders as cosigners of my estimate of value. If they don’t think you got a good enough deal, they’re not going to lend you any money. What a way to feel safe in your purchase; having a “stamp of approval” by another experienced investor.

2. Not getting prequalified.

It really boggles my mind. People are always putting the horse before the cart. Before you start
making offers on houses, get with your local hard money lender and get prequalified. Even get yourself a proof of funds letter. That way you’re a bona fide cash buyer. Do you know how much better the deals are when you can tell the seller that you’re a CASH buyer? The difference is night and day. The best deals come from sellers who have to move fast for one reason or another.

3. Not building a solid relationship with local hard money lenders.

Setting up a good rapport with a reputable local company that knows the area and can close quickly is vital. Some off the larger national companies take to much time and getting good deals in real estate requires fast action. While you still may need an appraisal for the file, to be perfectly honest,most local hard money dealers can just drive by a houses and tell you yes or no. That evaluation is valuable in many ways. Long distance lenders (and you by extension) can be fooled by bad comps. Wouldn’t you rather have a local expert, willing to put his own money up, tell you if your deal is viable or not?

4. Not asking about the prepayment penalty.

This can cost you up to 5% in additional charges when you sell the property. Make sure you are familiar with all the costs, fees, and penalties.

5. Not getting started right away.

Investing in real estate is an excellent way to build wealth and financial independence. Most people never start because they think they don't have the money to buy a house. Is there a better way to get into your first house or group of houses than to have a local money man say: “You've found such a good deal in real estate that I'm willing to lend you the money to buy it
and to fix it up”? If you've done your homework and are ready to act what could be simpler?

http://www.rehabhardmoney.com/

Welcome to RehabHardMoney.com, where Hard Money Loans are IDEAL loans for buying investment properties. Specializing in bringing hard money lenders and hard money borrowers together. Most real estate investors are looking for a private hard money lender and fast hard money lending, at RehabHardMoney fast hard money loans from private hard money lenders can be obtained in a matter of days.

http://www.aventinefunding.com/programs/private.html

California Loan Programs

Aventine Funding works with over 300 lenders who are capable of funding residential and commercial real estate loans on property anywhere in the state of California. In addition to traditional real estate loans, we also can provide private funding for both residential and commercial properties. While each borrower's circumstances are different, we are confident that we can find a loan program that suits your needs best, or we will tell you we cannot. You can help us understand more about your needs by using our quick contact form.
Private Money Loans / Hard Money Loans

When time is tight or your credit is less than perfect, aprivate money loan may be your only option. Many times private money loans are called hard money loans, but they both refer to the same thing. Private investors can fund loans on an individual basis or can pool their funds together to make loans. Typically, fees and terms on private money loans are well above what might be considered average for a loan on a particular property type at the time, however they can typically fund in as little as 5 days. This makes them ideal as bridge financing or other short-term type financing on commercial and/or residential properties. Most private money loans are interest only and are written for anywhere from 6 to 60 months with no pre-payment penalty.
Commercial Loan Programs

One of the most difficult problems that commercial real estate owners and investors face is finding loans when their credit, work history or tax returns are less than perfect. We have worked with many commercial real estate investors to locate financing for NNN (Triple Net Leased) properties, owner-user, industrial, retail, office and mixed-use properties nationwide. If you are intersted in finding out what options you have, please contact us at your convenience so that we can give you a no-obligation opinion about what options you may have.

Currently, we are working with a number of commercial lenders who can offer 10, 15, 20, 30 and 40 year amortization schedules, up to 90% Loan to Value and other great terms on a number of different commercial loan products. Please contact us to learn more about what is available today.
Residential Loan Programs

With access to loan programs offered by over 300 lenders, we have access to loan programs, rates and terms that many lenders and mortgage brokers don't even know exist today. We have helped borrowers who were unable to find sources of funds elsewhere to fund a loan in less than 2 weeks. While this may not happen in every situation, we are confident that we can help just about anyone who is serious about purchasing or refinancing their home or other single family residence.
Bankruptcy Loans

One of the trickier loans that we come across are bankruptcy loans. Typically, in a Chapter 11, 12, or 13 Backruptcy filing property can be set aside and if there is sufficient equity, new financing can be put into place in order to satisfy the credit plan approved by the Trustee and the court. Typically, these loans will not exceed 70% LTV (loan to value) on any one property. People looking for high LTV loans, above 70% will need to come in with additional cash to lower the loan to value percentage or find someone (relative, friend, etc) to pledge their property as additional collateral to cover the difference. But, these loans are quite common provided the equity in the properties is sufficient. If you are looking for a bankruptcy real estate loan on property that has been removed from your bankruptcy please call us or fill out our quick form to help us better understand your needs and have us contact you. Please note that we cannot fund bankruptcy loans under $150,000 AND above 70% loan to value.
Nationwide Loan Programs
NNN (Single Tenant Properties) Loans

We work with a number of nationwide real estate investors who acquire, operate and/or manage investment and income producing properties. We have a number of specialized commercial real estate lenders who offer very attractive terms for specialized properties like NNN leased single tenant properties (Kragan, Walmart, National Chain stores, etc) with no pre-payment penalties, 20, 25, and 30 year amortization, low costs and competitive rates. Unless you are purchasing property with a large-scale franchisee / operator in it, you will be hard pressed to find a loan on your NNN investment property that is as competitive as the financing we can provide. Add in our high level of service and it is a no brainer. Visit our NNN Property Loan page for more information. These loan terms are also available on just about any common commercial property type across the country. Please inquire with us for more details about your particular scenario.
Commercial Equity Line Loans / Stand Alone 2nds

A recent development is the commercial equity line loan allowing commercial property owners, investor or owner/operator, to pull the equity out of their commercial property with no appraisal and very little cost. These equity line loans are a great way to tap into the equity now or in the future with a minimum of hassle and expense. There is a very small minimum draw and they are a great idea for the "rainy day" needs of most small businesses. We can do these loans in just about every state in the union and on most commercial property types (including 5+ unit apartment buildings). Please visit our commercial equity line page for more details.

Anita, you're all over the place. I can't keep up with all your new forums. You're awesome. Thanks for the info.
Jeff

I am an investor in Casper, Wyoming. The area here is not what I'd like to be investing in, for the goals I have. I'd like to get in touch with private investors who may be willing to lend on deals in other areas. Mainly San Diego, Vegas, Phoenix, and some Texas and Florida areas as well.

I have a strategy for lower priced single family homes, but I also know of a place that I can find bulk REO packages. If I can get my hands on those, and then wholesale them out, I would love to go that route. I figure, if I can get a handful of properties to put on my websites, I will be able to attract my own buyers, on top of the couple of networks I am a part of.

My credit isn't going to allow conventional loans, and I have heard a little about private lenders, but do I have options with you? If not, do you know of any options, or avenues I can pursue?

Thanks so much for your time.

Kevin

Anita - thank you for sharing all of your research. I love your article about "5 Hard Money Mistakes". Great advice! So many people loose big chunks of their profit because of these mistakes when dealing with hard money lenders. Hopefully, many will read this and be aware before entering a Hard Money deal.

You are wonderful! Thank you for sharing!

Karen