Hard Money Lending
Are there a hard money lenders in B'ham, Al., that are ready to lend to rehabber small amount to really get going. That's considering they already have their own propertties from being an investor and landlord :-?
Can you get a HELOC or somehow pull out equity from some of your other properties? That would definatly be much easier and CHEAPER.
Quote:
On 2004-11-29 12:47, apos2build wrote:
Are there a hard money lenders in B'ham, Al., that are ready to lend to rehabber small amount to really get going. That's considering they already have their own propertties from being an investor and landlord :-?
I was told that it was very difficult to get a heloc on a NOO property. Was this wrong?
What is the best way to learn what the norms are for a Hard Money Lender? Any books/sites? :-?
Problem is i got into some stressful times because of health problems and had to resign fro regular job. tenants were very difficult renters when it came to their rent after i got sick. Some of the times i had to make the note payments myself and that was no problem because i was working, with a $30,000 plus income with other small investmts. To make a long story short i ended up in chapter 13. getting ready to get that payed off with loan on a property without any loans or liens, but property still needs minor repairs. Wht would you suggest after hearing my scenario? :-?
Problem is i got into some stressful times because of health problems and had to resign fro regular job. tenants were very difficult renters when it came to their rent after i got sick. Some of the times i had to make the note payments myself and that was no problem because i was working, with a $30,000 plus income with other small investmts. To make a long story short i ended up in chapter 13. getting ready to get that payed off with loan on a property without any loans or liens, but property still needs minor repairs. Wht would you suggest after hearing my scenario? :-?
i recomend a fiddle
on a more serious note why not take on a partner. no loan process, and potentialy broaden your horizon