Need To Find Private Lenders-houses
I am new and am looking for a way to find private lenders for single family houses to rehab. Does anyone know the best way to find people that are willing to loan on high equity deals? Bank cd holders only make 1-3%. I am willing to pay 12%apr. Thanks for any suggestions
Most private or hardmoney guys are at 18% APR if your lucky.
watch out for usury laws.
look for mortgage bankers if that term works in TX, hard money lenders or brokers that place private money.
What is the price range of these homes?
I am in some ways still a "newbie", but in some areas I would like to think myself pretty "schooled" when it comes to real estate. I have come across a wealth of information since I jumped into the real estate game, but the one thing that i have yet to find, would be a lender(s) who actually loans money without all the hassles of conventional loans. There is still so much red tape when it comes to no-doc loans, loans against the property, etc.....i still think them all pipe dreams. If any of you know of any lender or lenders who you can go to (as an investor) and borrow money from against a home you may own, to do re-habs, etc....please share that info with me. Thanks.