Hard Money For Buying Attributes - Financing Real Property Deals
I recently got a call in one of our non-local real estate agents who works with some of our investors in another market and the lady asked me if I realized a good source for hard money in her area. Many hard money lenders will only lend in their local market or to people that they know and have an established relationship with. Therefore, I could not refer her to work with the hard money lenders that I have in my local market.
With the recent pro-investor changes in the seasoning guidelines for buying HUD properties and reselling them, I feel that hard money will be key for many investors to quickly gain control of these offers in order to do some fix up and immediately resell them to end buyers. So, finding great hard money lenders in your local market will be an important tool for investing in HUD properties.
Therefore , this the short and the long answer to where to find hard money lenders to buy properties.
The short answer is that We am actively starting to look for hard money lenders to advertise on metropolis websites which property agents real estate they provide loans in. In case you are a hard money lender and want to lend money to our investors, get in touch directly.
The long answer is that you can find hard money lenders yourself by networking with other local investors at your local real estate clubs and associations. You can also find private lenders by talking to people you already know about the deal you are looking at and asking them if they know someone who might be willing to give money into it. You can also search out hard money lenders in the "money to lend" segment of your local newspapers (check all of them) and through on-line classified websites. Of course, a good mortgage broker that works with investors will also have access to hard money lenders.
While I actually am finding hard money lenders to advertise straight on the site, I encourage you to find one yourself using the tips above. If you find a great one, tell me about them so I can get them on the internet site. If you find a bad one (and there are some out there), let me know about them too so I can inform people to avoid using them.