What's the going RATE on Private Money? - Posted by Raul_SoCal

Posted by Edwin on May 12, 2009 at 20:39:00:

I’d sure like to know how you manage to buy foreclosures for 3-5k that are listed from 30-50k. I just tried to buy a foreclosure for $46k that was listed for $69k—the bank blew me off and never even responded.

What’s the going RATE on Private Money? - Posted by Raul_SoCal

Posted by Raul_SoCal on April 28, 2009 at 20:07:43:

Looking to see, what the going rate for a 12 month, $100-200k, simple interest only rate is? I’m in SoCal- Ventura County to be precise. Just wondering, what lenders expect. Any info is greatly appreciated.

Re: What’s the going RATE on Private Money? - Posted by Mike

Posted by Mike on April 28, 2009 at 22:39:32:

We are doing 14% interest only, and 4 points on the front, with no PPP, 6 months balloon with extensions available at a cost.

Re: What’s the going RATE on Private Money? - Posted by jmac

Posted by jmac on April 28, 2009 at 20:29:36:

In general we are currently charging 12-13% and 3-5pts, for this size loan, depending on the property type. Vacant land is going to be more expensive and harder to find. LTV and your credit score change the pricing somewhat also.

www.TheHardMoneyPros.com
Private & Hard Money Lenders in CA

Re: What’s the going RATE on Private Money? - Posted by dave

Posted by dave on May 02, 2009 at 15:15:51:

Are there any hml in indiana? I need 3k to 5k for my loans and will pay 18% interest and give 5 points at loan inception. Looking for 1 year balloons and can also put 20% down on all my deals. I can be reached at 812 305 5971 ask for David. I buy junkers then rent them long term get about 500 to 700 monthly in rents out of them. I generally buy forclosures listed between 30k to 50k for 3k to 5k. I would like to find a HML that wants to earn some great interest this year. I have been a rehabber for about 15 years and in property management.