Hardmoney lenders - Posted by Jay

Real Estate Investing Real Estate Financing
#1

Posted by ANDREW SACHS on April 10, 2001 at 11:08:20:

I work for Valley Pine Mortgage in Maryland and we are a hard money lender licensed in 17 states. For anyone needing a loan quickly ( we have closed in 2 days before), or if your borrower is horrible, or if you need someone to lend to an estate, we can do it! We usually lend at 50 LTV with rates starting at 13%. We offer loan programs from conventional to commercial, construction and renovation for subprime, excess acreag (house on 400 acres, we lend on all the land) farms, land and lot loans, blanket loans. Call us at 443-394-3500 or look on our web site www.valleypine.com

#2

Hardmoney lenders - Posted by Jay

Posted by Jay on February 25, 2001 at 23:01:05:

Hello Ed

I’ve got question? I live in Oklahoma and have been investing here for about 2yrs now. I mainly buy foreclosers and rehab them then sell or rent, but i also have lost some good deals. ( LACK OF QUICK CASH)My capital is about gone and when i talk to mortgage brokers about hardmoney lenders, they look at me like i’m on drugs. Oklahoma, being one of the last states, their about 20yrs behind the rest of the world and no-one really understands hard money lending here. I’ve run ads and had acouple of calls, one even asked me to put the deed in his name while i was working on it, i kinda laughed at him. Anyway my question was do you know of anyone that is willing to do hardmoney loans in the Oklahoma area. I’m not real concerned with interest rates but please be resionable,i’ve missed some dang good deals becuase lack of quick funds. My credit is good and i have some experiance in the game, i just need someone with cash that will back me. Anyone thats interested, you can e-mail me. Thanks Jay

#3

Re: Hardmoney lenders - Posted by Ed Garcia

Posted by Ed Garcia on February 26, 2001 at 10:21:18:

Jay,

This next week were going on a campaign for hard money across the country. I don’t know how successful were going to be, but we’ll have some fun trying it. So stay tuned to this forum. With the permission of the owners of this site I’m going to allow hard money lenders to tell us where they are, and how good they are.

Meanwhile, if hard money is as hard to come by as you’ve told us, you might consider becoming a lender and starting a hard money business. Once you start to develop an investor base, it could be very fruitful. Jay I know that this isn’t what you want to hear, but I can’t believe that mortgage brokers don’t have a source for hard money and yet I have found it to be true in different parts of the country. Time and time again, I’ve heard that there are brokers who don’t know were to find hard money.

Sorry, I’m not much help to you, but maybe next week, something will come up here on this forum.

Ed Garcia