I Need Hard Money / Private Money Lenders

I have a list that some of the coaches and some of the other students in these forums are currently working on. It is a very detailed list.

If you are interested in being a helper on the list and getting information for some of the lenders I will send you the entire list.

There will be lenders in your area(s) and national.

Something to consider.

I am very interested. What would I have to do ?

Please let me know.

Regards,
Zachary

Greetings I am also in buffalo ny what are your target areas specifically and i can make some connections for you as well...

Zachery,

Remember most HM and PM lenders DO require at least 6 months of interest payments available in your accounts in liquid assets. Most will also check your credit. Not so much for your credit score but to check for foreclosures, bankruptcies , that type of thing.

Here is a quick example. Say your Hard Money lender charges 15% interest only.
You want to borrow $100,000. So that is $15,000 in interest per year. They lender will want to see $7500 (6 months of interest payments) in you bank account before they lend to you. No matter how good the deal is they are not going to lend to you if you have no means to pay the cost of the loan.

No matter what you have heard, lenders don't lend based on the "numbers of the
deal". Once you have established yourself with a lender things get quicker and easier. Why? They already know you, they have already checked you out when you did the first deal with them. AND you have preformed to their expectations.

What you are looking for is a Private Money Equity Partner. Some one that will fund the deal for a percentage of the net profit at closing. Just based on the numbers. This is the best type of lender that will work within your current needs it sounds like to me.

Good Luck,
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Hi,

I am looking Erie and Niagara County.

Let me know.

Regards,
Zachary

Michael,

Thank you very much for your thoughts. I do agree with you.
Do you happy to know any people who would be interested in
A profit sharing / investment partner.

Please let me know.

Regards,
Zachary

Thanks,

I just signed up on one of your sites. I'll further pursue the others.

carpediemchristian

I am interested anytime you have insight like this to share.
Thanks for the posting.

carpediemchristian

A quick way and one of my favorite ways to find hard money lenders that are more creative are at the real estate auctions. In most areas people that buy at auction need to pay cash. In my area the buyers have less than 24 hours to come up with the purchase price.

This means that the buyers either 1) Use their own money to buy or 2) are using some other person’s money.

I would ask these people if they are hard money and who do they use.

You can also get their business card and research all the properties they purchased under their private and business name. Who created the loan? This information can be found at your county records office.

Hi everyone. I am looking for anyone with access or knowledge of Private Money for Acquisition and rehab of a property. If possible a long term loan with an interest rate between 1 - 5%. I am willing to share in the profits to get started. I want to stop investor buyers going around me waiting for my contractual hold to end and they go in an purchase the properties that I find. I need to create hand money for RE agents that have access to HUD foreclosure properties. My area is plentiful in them in neighborhoods that are developing in ARV. Some purchase cost 9 to 40k with an arv in or near $200k. Help meeee Please!