Hallo
I’m looking for some recommendations on national hard money lenders (or ones in Florida/Massachusetts) that have flexible guidelines. Specifically, I’m trying to help out a couple of borrowers who have no prior house-flipping experience and no credit history.
If any of you have had good experiences with lenders who work with these kinds of situations, I’d really appreciate hearing who you’ve had the best luck with!
Your help is welcome…
Hard money lenders sometimes work with customers that have little or no credit history. Rather evaluating the borrower’s individual credit history, they usually concentrate on the property’s worth and possible returns.
a directory specifically for hard money lenders. Hard money loans are also provided by this online real estate investment platform.
…a well-known real estate investment community with debates and suggestions on hard money lenders. Another online forum for real estate investors, REITTalk has talks on different forms of funding.
They frequently have connections to hard money lenders in the area. They are able to propose local lenders as well.
Ask about their usual turnaround time as hard money lenders are renowned for their quick closings. To determine the reputation of the lender, look through customer endorsements and reviews.