Private lender/mortgage info & suggestions

Onpoint

Rising Star
BGOL Investor
Looking for info/suggestions for Private Lender companies. Outlets other than traditional banks/mortgage companies. Anyone used any or recommend certain companies?
 

daTiger

Rising Star
BGOL Investor
Google 'hard money' for real estate investing. One of the companies I use is Longhorn Investments. Hard money can be a lil expensive but it gets my deals done on fix and flips until I can purchase with cash.

This particular lender offers easy and simple qualifications: have an LLC, 650 personal credit score and 15K in your business account. After that, the deal just has to make since. The terms are 10% interest only and a 6 month note, renewable for 12 months if needed.

They offer 70% of the After Rehab Value(ARV). Lets say the ARV of a property is 120K, they will loan you up to 84K. If you can get the property for 70K, you can use the extra funds to put into the rehab.
 
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