The hardest of hard money lenders! - Posted by Ben

Real Estate Investing
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Posted by John Behle on May 20, 1999 at 24:25:30:

I haven’t heard of them, but I always recommend checking into hard money lenders very deeply. I detailed why in a post a few days ago. It should still be on the newsgroup here. There is also an article I wrote comparing “Discounted Paper vs. Hard Money Loans” and what the differences are and how to make sure you maintain the same level of safety.

Usury is an issue in many states. A good local resource and someone that might know something about this company would be Russ Dalbey at American Note Network.

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The hardest of hard money lenders! - Posted by Ben

Posted by Ben on May 19, 1999 at 19:46:44:

Has anyone heard of Regatta Capital based in Colorado.
They lend out money up to 2.25% per month, with 4 points.
or a straight 15% with 10 points.They have an investors program where investors can get up to 30% returns on their money. Sounds great but is this legal?

I once knew an attorney running a similar lending operation. When I asked him “What about usury laws” he said “Don’t ask me about usury laws, ask me about GETTING AROUND usury laws!”

Oh-oh.