Any Hard Money in TX Besides Statewide and Ready Mortgage? - Posted by TRandle

Real Estate Investing
1

Posted by David Alexander on September 15, 2000 at 11:12:05:

Yep, It’s a lot easier to pick up a check ovver Lunch,… :slight_smile:

David Alexander

2

Any Hard Money in TX Besides Statewide and Ready Mortgage? - Posted by TRandle

Posted by TRandle on September 13, 2000 at 23:22:35:

thanks…

3

come to poppa~~ - Posted by steph in tex

Posted by steph in tex on September 15, 2000 at 07:12:26:

i mean momma…
(sorry guys~inside joke)
just kiddin’
call me, we’ll see what we’ve got.

Statewide’s still the softest hard money around :slight_smile:
~~sure you don’t want to give 'em another shot?

steph in tex

4

Re: Any Hard Money in TX Besides Statewide and Ready Mortgage? - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on September 14, 2000 at 21:04:24:

Hey Tim,

Why didn’t they work for you ?

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Dear Mortgage Mama! - Posted by TRandle

Posted by TRandle on September 15, 2000 at 08:59:05:

What’s this? I’ve seen like 4 or 5 posts from you in the last two days. You’re done with the B side for a while and jumping back into the S? Just modify that Policies and Procedures Manual for REI and be done with it already. I know, easier said than done. I’ll call later.

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I’ll explain next time I talk to you… - Posted by TRandle

Posted by TRandle on September 15, 2000 at 09:01:00:

but we’ll probably try them again, like Monday the 18th?

7

Man, you guys are SO lucky… - Posted by HR

Posted by HR on September 15, 2000 at 06:29:45:

Tim,

I just spoke to a George Pew at statewide a couple days ago to see if they lend in Louisiana. Of course, they don’t. And don’t plan on it soon. Man did that conversation leave me in a foul mood, though. What a great program! You guys got it made. There ain’t much hard money known here in New Orleans, and one of the only rei who does it charges 10 points and 18% interest! I thought statewide sounded great! Man, if I had that here, I could flip more deals. Yea, yea, I got to find and cultivate local $$$… yea, yea – but when it’s handed to you on a program like what statewide has, be grateful! Some of us don’t have ANYTHING like what some of ya’ll have in Texas, Florida, California, etc.

Ok, time to get off the soapbox. I feel better. :wink:

HR

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Are we, really ? - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on September 15, 2000 at 09:44:41:

Dear HR,

Common, you can do better than that. I’ve been buying homes with private lenders’ money for 7 years before Statewide made its presence known. In fact, I still haven’t used their money to date, and I do buy a couple of homes a month.

You got to start advertising in your local newspaper’s financial sections (loans, wanted to borrow, etc.). You got to commit some money to run this ad periodically on Sundays, so the guys with the money notice you.

Incidentally, these money is typically much cheaper and terms are a bit better, than what you get from someone like Statewide. There are other ways to find the private lenders. Find out who does cash deals in your community and track their transactions at the court house. You’ll quickly discover individuals who consistently loan those investors the cash. Write a nice introductory letter to them…

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Alex, I’m all ears… - Posted by HR

Posted by HR on September 15, 2000 at 20:12:17:

How else do you recommend finding hard money?

  1. Find out who does cash deals and see if they will lend. Seems easy enuf.

  2. Advertise in the paper. Again, seems easy enuf. Any suggestions on the ad?

  3. Any other tips? Suggestions? I’m all ears…

HR