Ed please help - Posted by chuck

Posted by Carey_PA on December 17, 2000 at 09:50:48:


I was just wondering what is the difference between a hard money lender and what you refer to above as a hard money lender “just trying to do subprime loans out of state?”



Ed please help - Posted by chuck

Posted by chuck on December 14, 2000 at 20:19:34:

I have several rehabs that I would like to make offers on, but I cannot get anyone to answer my emails concerning hard money…Do you know of anyone that would be willing to talk with me about hard money…i am a real estate agent in MI and come across many deals that I would like to do…thanks in advance…all other parties with info are welcome to input

Re: Ed please help - Posted by Ed Garcia

Posted by Ed Garcia on December 15, 2000 at 10:12:15:


Be careful with Tim Johnson’s recommendation. The reason I say that, is because true Hard Money is PRIVATE SECTOR (private investor) funds. When I see a so-called hard money lender who is based in one state, tell me that they will give me a loan in another, I don’t believe it. You might notice the area codes the lenders are giving out when selecting these lenders.

Chuck, many lenders misrepresent themselves as hard money lenders. I’ve seen the lenders that are on the “Hard money network”. More than likely they are competent in the state they are based in and are just trying to do sub-prime loans in the other states.

I’m going to attempt to put a real Hard Money network together by having an established hard money lender in each individual state. It’s going to be difficult because in some states there is a difference in the definition of the term HARD MONEY.

My suggestion for you is to find a good mortgage broker in your area. A good mortgage broker will be able to find you hard money, remember their job is to find money to fund real-estate deals.

Ed Garcia

Re: Ed please help - Posted by Tim Johnson

Posted by Tim Johnson on December 14, 2000 at 21:55:19:

Try hardmoneynetwork.com. There should be several companies listed that might help you.