Hard Money?
I am new to the world of REI. I have found several properties that seem to offer high returns. I would greatly appreciate any information you could provide in reference to Hard Money Loans, and Lenders. I have found several sites offering this kind of financing yet they are all so different, and some seem difficult. Any ideas of good companies that have proven to be reliable would be greatly appreciated.
I have had good luck with Brookview Financial. They know what they are doing, and they won't let you get in too far over your head. They are a valued member of my team. I work with John McEwan. They are available at www.brookviewfinancial.com. There is also rehab funding. They are the only two I know who lend nationwide.
I just used this feature tonight, so I'm proud to offer the following advice:
There's a "Lenders" link in the navigation bar just underneath the banner header. It will ask you a couple pertinent questions about the deal (LTV, etc.), and suggest several programs that suit your deal. Then you can evaluate those lenders by seeing their previous TCI deals!
I thought that was pretty darned cool. It's like a RFP response in a URL.
- Mandi
I also found Brookview Financial to be very good. It helps to have a hml in my area as i am from CT.
Good luck Al Vars
Take the advice offered about the specific company and the link to lenders from this site.
Another way to find a HML is to hook up with the local RE investing club if there is one in your area. Ask there and you will get some recommendations. Sometimes the lender is more a fellow investor who goes both ways (HML or buys property in their name). Other times you will get pointed to someone who is more or less retired from investing and just does HML deals.
If nothing else use what they will offer as a benchmark for lenders who are more national.
One key thing to watch is the follow through after verbal commitment to loan funded/deal done.
John
[addsig]
Thank you all very much for the information you provided. It is greatly appreciated.