Posted by Jim IL on June 17, 1999 at 21:26:09:
Amanda,
Where in illinois are you?
If you near me I may have a broker who can help your buyer get the funds needed. (I’m 35 miles SW of chicago, near Aurora)
How much time until close?
My broker says he can get a deal funded in as little as 10 to 15 days.
Drop me a private e-mail and I’ll get you that brokers contact info,
Jim IL
We need help finding hard money loans - Posted by Amanda
Posted by Amanda on June 17, 1999 at 17:16:47:
My partner and I have a house under contract and are looking to sell very soon. We found a buyer for our property, but he has to get financing and that could take up to a month or longer.
We talked to some hard money lenders a couple days ago and they told us that they would have to fly all the way from Washington to look at the property we have in Illinois. But that would be rather costly.
We are hoping to basically find a hard money lender to loan us the money without having to fly over here to see the house at out expense(plus the high interst and points).
If anyone can help us it would be greatly appreciated.
Amanda from Illinois
Re: We need help finding hard money loans - Posted by PBoone
Posted by PBoone on June 17, 1999 at 18:41:17:
Amanda,
There could be another way to solve the problem. Please give more detail about the house and buyer
Pat
Re: We need help finding hard money loans - Posted by Amanda
Posted by Amanda on June 17, 1999 at 19:52:06:
The house is a SFH that needs about 10K in repairs. Fixed up it is worth about 50K. the price we are selling it for is 22K. Since we are flipping this property, we are trying to sell quickly. The buyer is well qualified with good credit, with verifiable income(he is a contractor who is fixing the house himself to live in). Our concern is the buyer being able to get a conventional loan, with the house needing as many repairs as it does…
Any input would be appreciated…
Amanda