Do hard money lenders do this? - Posted by Bobby-PA

Posted by dewCO on November 09, 2000 at 21:52:53:

Hope is right, plus you don’t offer incentives to hard money lenders, they offer you a loan. With the possible exception that they are your friends or relatives, and even then, if they are experienced…

Do hard money lenders do this? - Posted by Bobby-PA

Posted by Bobby-PA on November 09, 2000 at 24:18:45:

I have a property that I was renting to inherited tenants.
To make a long story short, the tenants were evicted and I had a lot of renovations to do after they were gone. The renovations are complete and the house is now on the market to be sold. I used about $14,000 from an availabe credit account to pay for the renovations. The property, when sold will net more than twice this amount. What I would like to know is if there are hard money lenders who would lend the $14,000 to repay the credit accounts in return for their money, plus any predetermined interest once the house is sold. What other incentives might I offer to attract a lender for something like this.