Where Can I Find Creative Lenders - Posted by Rich Benefactor
Posted by Rich Benefactor on November 29, 1999 at 15:00:43:
I was wondering if anyone here knows of a resource for a list of creative lenders that are willing to work with RE investors.
I believe that this newsgroup is probably the best place in the entire world to compile information of this type. I am running into problems with conventional lenders on some of the deals I am putting together.
The most common challenge I’m running into is the unwillingness of a lender to allow a refinance if the property has been owned for less than 6 months. I know there are lenders out there that don’t have this requirement but I don’t know how to locate them short of calling all seven million of them (haha).
The other problem I am running into is that most lenders want a large sum of cash in escrow to show a down payment. Are there any ways around this challenge?
As always, I humbly thank you all for your valuable input.
Wealth to us all…