Finding money or ideas.
I hear of hard money lenders and such willing to help with some weird stuff in financing, but how do I find these people.
I am looking for about $50K in financing for a down payment at 10%-12% for 24 months. I have 3 other properties that I can hold a second on one or all of them but it is not cost effective for me to use a traditional lender with my self-employed status and the types of loans and rates I have on them.
The other side of this is the property which I am looking to aquire is way under rented - thus under priced since they based the price on gross rent. A bank does not understand that people will sell a property for less then it is worth.
Seller is not at all flexible, but the house is way under priced and not yet been placed on the market.
Any help?
Price = $339K
My estimated value with market rents = $500K
(He rents a 2br for $550 and 2 blocks away I get $800 and his are nicer 
)
THanks
Scott
You probably don't want a bank. You want a mortgage broker. You can find them in the yellow pages. Mortgage Brokers aren't bankers, and they can give you better LTV than what you might think. I am not a mortgage broker, incidently, I just had my eyes opened up to them recently. I have been a "CountryWide Home Loan" on my last three homes, and didn't even know there were alternatives!
Best of luck
Clint
hey Drifter
you may check this website out
http://www.realestatelink.net/hardmoney.html
hope it helps