REO and HARD Money, Where to find? - Posted by Jim


#1

Posted by Stacy (AZ) on November 23, 1998 at 18:36:16:

I forgot to add…

When you are calling lenders, many will tell you they don’t give “hard money” loans, and some won’t even know what it means. However, expain what you are looking for and ask if they know of another company that does. Some should be able to give you a referral to a hard-money lender or two.

Stacy


#2

REO and HARD Money, Where to find? - Posted by Jim

Posted by Jim on November 23, 1998 at 16:32:16:

Thank you for all the responses. I don’t want to sound like an idiot, but where do I find Hard Money Lenders? I checked the yellow pagers under, Mortgages, Finance companies, and Lenders, also Real Estate. also checked newspaper classifieds for financial area. Cannot find a single one. I am in the Chicago Southwest burbs (35 miles out of city), any idea where to look, or what to look for?
Thanks again. When I get some more experience in this, I’ll definetly return the favors by posting my accounts and advice. This is a GREAT forum, and help center.


#3

Re: REO and HARD Money, Where to find? - Posted by Ray(OH)

Posted by Ray(OH) on November 24, 1998 at 08:35:23:

Locate the Chicago chapter of REIA. (real estate investors association) If they’re not in the phone book try callin the “We buy houses for Cash” ads in the paper. These people are investors and some of them will help you.
At our meetings (Cleveland Ohio)there is always a handful of hard money lenders promoting their service.
Hope this helps


#4

Re: REO and HARD Money, Where to find? - Posted by Paul Macdonald

Posted by Paul Macdonald on November 23, 1998 at 22:47:27:

Now that you’ve got the yellow pages out - use it! Call the first ten that catch your eye. And pitch your need to all ten. If they say no ask for advice where to go. Within 30 minutes you’ll have two to four good target lenders - hard, medium and soft!

Good Hunting

Paul Macdonald


#5

Re: REO and HARD Money, Where to find? - Posted by Stacy (AZ)

Posted by Stacy (AZ) on November 23, 1998 at 18:27:00:

Jim, were you looking for the words “hard money” in the yellow pages ads? Look for “equity lending” or “equity based lending”, or “investor loans”. The Phoenix Yellow pages has these guys under the Mortgages section.

Stacy


#6

Re: REO and HARD Money, Where to find? - Posted by Jerry

Posted by Jerry on November 23, 1998 at 17:59:15:

Try calling REHABEXP

They are located in Chicago and are hard money lenders…good luck!

773-227-4937 Office number for Rehabexp