need hard money - Posted by Ann (TX)

Posted by John B. Corey Jr. on September 16, 2005 at 21:31:12:


I am a hard money lender and I do deals in TX.

Based on three factors I question the fit between HM and your deal.

  1. You have good credit so you have more options.
  2. You have good income so that helps even more for solutions other than HM.
  3. The numbers are tight for hard money. 65% to 70% ARV is about the limit for most folks. I use as-is as I do not pull credit or escrow repairs.

Why use hard money? Is there a time crunch or is the property so beat up it can not qualify for any sort of conventional or non-conforming financing?

Get in touch by email if you want me to review the details and look at funding the deal.

John Corey
Chelsea Private Equity LLC

need hard money - Posted by Ann (TX)

Posted by Ann (TX) on September 16, 2005 at 10:10:50:

I have a project I need to find hard money for in Texas. Sales price-$35,000. repairs–$15,000 (very generous)
ARV $65,000 (at least). I have good credit,around 700, income is 150,000.