Posted by GC on March 11, 2002 at 09:59:58:
nt
What is a hard money lender? - Posted by Bill G. LV, NV.
Posted by Bill G. LV, NV. on March 09, 2002 at 21:16:57:
Hello,
what is a hard money lender and how do they work? Also, i have a motivated seller house paid off, will sell for about 155K, and worth about 164-169K, i need a quick profit can anyone guide me here. No cash myself to put down. yet!!
Thank you for your time.
Re: What is a hard money lender? - Posted by Nate(DC)
Posted by Nate(DC) on March 09, 2002 at 22:10:26:
If they will sell for $155K and it is worth $164K, and you intend to buy it and resell, you will probably end up with NO profit. I don’t advise you to do that if you are looking for a “quick profit”.
NT
Re: What is a hard money lender? - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on March 09, 2002 at 21:47:28:
Ed Wachsman has a pretty good explanation of hard money in his How To article titled ?A Glossary Of Common Terms Used In Loans And Lending?. You can find it at:
http://www.creonline.com/articl68.htm
Best of Success!!
Jim Kennedy,
Houston, TX