Hardmoney lenders - Posted by Jay

Posted by Gil on August 01, 2001 at 10:44:26:

debt consolidation

debt consolidation

debt consolidation

debt consolidation

Hardmoney lenders - Posted by Jay

Posted by Jay on June 23, 2001 at 19:52:01:

Hey Ed,
Its been awhile since I’ve posted and I’m wondering if you were able to put that hardmoney lender list together. I live in Oklahoma and Hardmoney lenders are as scarce as ocean front property here. If you have any that will lend in Oklahoma let me know. Last time i posted i had some brokers email me and try to talk me into conforming loans and i had to explain why i was looking for hardmoney loans ( which is debt to income ratio and also dealing with all the paper work ) they really didnt want to talk anymore. I own 15 houses now and I’m making good money, but I’m always running into financing issues. If i could find a hardmoney lender i could really make alot of money, the last two house i bought at 35% of appraisal and i can find them all day long, but i need the cash to buy. If anyone else has any good ideas please email me.

Re: Hardmoney lenders - Posted by Ed Garcia

Posted by Ed Garcia on June 24, 2001 at 10:23:53:


You’re right. I started to look for hard money lenders across the country but we never really accomplished what we wanted to at that time. It was the same time that Russ Whitney and his group were the main attraction on the board, it sort of got lost in all of the turmoil.

Perhaps I’ll try it again another time.

Ed Garcia

Re: Hardmoney lenders - Posted by Bruce Lawson

Posted by Bruce Lawson on June 24, 2001 at 07:20:39:

HI jay,

You might want to consider doing a few flips with your proerties to generate some cash and pay off some of your debt.

Have you seen your recent credit reports? There may some information on them that is inaccurate and keeping your score down.

If you are making good money now you might think about paying down that D/I ratio even Beneficial or the Associates would do a debt consolidation for you, then you sell some of your investments and pay that loan off. It appears that getting your D/I ratio down is important so I would concentrate on that, you have the resources even if you can not find hard money.

You can contact me if you care to discuss credit issues and credit reporting.


Bruce Lawson