Was just wondering, with all the economy mess today and slow sellers market, how do people really profit from hard money loans, when the property has to be sold in order to make profit? Thanks for any input

I am looking for a hard money loan to purchase inventory and to rent a kiosk in the mall for the holidays for my business. I have tried the banks and they say my credit score isn’t high enough or they would like to see more cash flow. I have high margin inventory as much as 80% profit margin, so I can turn the inventory quickly. Just looking for a company that will lend the money quickly. Please only legitimate answers.

Please don’t try to answer this question unless you are personally experienced with hard money loans:

I assume that the following is right. Please correct me if not.

Example:
Need to net ,000 from a HM lender who wants 5 points and 15% for 2 years.

To net ,000, I will in fact have to borrow ,500.

I will pay 15% interest on ,500.

Is that correct? If not, please advise.

Thanks!

I have been trying to find info on the internet about hard money loans to buy houses at an auction for like 2-50K worth. We have some money saved in savings but dont believe we can get a home loan becuase they say if they cant inspect the house which is usually the case with these auctions, then they cant give you a loan, or because the condition of these homes when the people are foced to get out. SO ANY ADVICE OF WHAT LOAN, I HAVE BEEN REJECTED FOR PRIVATE LOAN BY MYSELF, BUT MY FIANCE AND I WANT IN THIS TOGETHER. What are requirements for this hard money loan?
Is is it very likely we could qualify for this loan.
We dont own a house. We dont rent. I own a brand new car, little debt.Fiance just rid of his car,little debt. combined monthly income, ,000. Fiance credit is 690. Mine 715. Only colateral is my car. If they ask for a colateral do they do that when you get the house? as the colateral??

Does anyone need a 10+ million hard money loan? Specifically in the real estate or construction sector?

Im looking to obtain a hard money loan on my property in Louisiana. Can anyone please help me with finding a company?
Before you ask NO, my property wasnt damaged by Katrina nor Rita.

The reason I need a Hard Money loan is because my credit is poor.Anyone knows of any programs out there?

Most lenders require hard money loans to be in a city based area. I have found a gold mine property worth twice as much as asking price. Our credit score is in the 500’s.

I am going after hard money deals and wish to learn how to qualify deals quickly not to waste time, so if you are marketing hard money loans please tell me how to qualify prospects thanks

The services my company offers includes, loss mitigation, hard money lending, property investment opportunities, commercial and residential loans.

Does anyone know of a hard money or a private investor that would lend in the state of WI? I am looking at residential and small commercial properties, loan amounts as low as 50k. I am looking to buy and hold. I am looking for terms of 3 to 6 months and would then refi into a convetional loan.

I am looking for hard money loan base on equity as collateral.What are the common fees I should pay

I’m looking to invest in real estate through hard money loans and after some research and talking to some advisors in the field I found that you only make profit on these type deals when they are sold since the property is being used as collateral.
I’ve also heard that you can refinance the property brought with hard money, but I didn’t think this was possible since its already being used as collateral with the hard money. Can someone please share their knowledge with profiting from hard money deals. Thanks in advance.

I talked to one "businessman" who wants to borrow money at 100% interest rate. He says that in California there is no limit on hard money loans. Is he trying to scam people?

I am interested in purchasing investment properties below market value, rehabing them, and selling them as affordable housing. Is there a company out there that would finance me with a hard money loan or a bad credit/no credit loan?

I was at a real estate seminar recently and they mentioned using a hard money loan to start off immediate investing with no money down. I have not heard of this option before and was wondering if it could be explained to me.

I need a hard money loan or a asset based loan. Lenders from the nyc area please. I don’t want any other type of loan(conventional loan).

I want to get started in real state in California. I heard the term hard money loan and I’m interested in looking into it. if any body could tell me much of what they know about it (rates,requirements, techniques, loopholes…etc.) that’ll be appreciated for life. thanks!

I’m looking for the best lender for Hard Money Loans or Private Money Loans.

I’m a real estate investor and I’ve found a few banks that have decent programs, but I’m tired of dealing with Shady loan officers.

To whom it may concern,
Hello, my name is Eddie. The reason for this post is because I’m looking for a hard money loan or a loan without requirements. I need a bridge to finance a property that I want to buy and invest in. I do have a job but I don’t have good credit or assets to put down as collateral but I was hoping to secure this loan with the piece of real property that I want to buy. I don’t know if it works that way but that’s what I was hoping to accomplish. The property I want to buy is in the City of Oceanside California, San Diego County. It’s a 2bdrm. 2baths. Condo currently listed at 9,900 it’s an REO Bank Owned Property and the agent told me that the bank MIGHT take a lower offer. I was hoping to get a loan for 9,900 and then offer 0,000 and hopefully get it at 0,000 and then fix up the condo for sale in like a month or two and list it at 0,000. The condo needs some repairs but nothing major. Please help.

eddielugan@yahoo.com

how would one go about getting a hard money loan in michigan?

I want to get into investing in property but my credit is crap. I was told about hard money, basicly loans at an high percentage rate. I think that’s my only way in. My plan is to get the money and repair the homes and what’s left use for monthly note. Basicly pay them back with their own money. Do you think this is a good idea? Where should I start to find a hard money loan?

I am currently trying to refinance one of my properties.The problem is that my credit score plumitted because I am behind on payments(I have a variable interest rate & noone is currently renting my home).My payment keeps going up & I'm afraid I won't catch up!!!They tell me because of my score I would only qualify for a hard money loan & on top of that I cannot cash out.I've heard these loans are VERY high risk.Are they trying to srew my over.What do I do??My payment keeps going up,I need to cash out so I can pay for backed up bills.They tell me the only program that can give me a low monthly payment that is fixed is Option 1.Please give me your opinion.Thanks people I appreciate the help!!
I saw that one of you said to have someone else go into the loan with me & I have already tried that.My mom has a fico score in low 800's & even that way the bank's keep telling me that they will use MY score over hers.They tell me that they HAVE TO use the lowest score.So that doesn't work for my either.

I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it

This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )

PS: My Health Insurance wont cover a thing. Thanks : ]

I am looking for a small hard money loan or a no credit check loan in the area of ,000 or so in the Chicago area…

I would really like to get into real estate investing, but do not have the funding available to me.

I am not new to real estate and have worked with pre-foreclosures before. I used to find them, work out deals (sometimes short-sales) with the banks and then submit them to a network of buyers that I am affiliated with.

What I want to do now, however, is invest in real estate for myself rather than collecting small finders fees after doing all the work. I am an expert at finding nice properties for pennies on the dollar, but am unable to purchase these properties myself because of a lack of funds.

This would not be as big of a problem if it weren't for my own poor credit score. Which makes it impossible for me to secure a loan using traditional techniques. So what would be required is either a true "equity based" loan or "no doc" loan; or a private investor.

Does anyone know how I can get money to make these investments, i.e. private loans, hard money, etc. and more specifically how to get in touch with them?

Thank you in advance.

Is it against the real estate law for an agent to give his client money for personal needs (to make the mortgage payment), and have the client name the agent as the beneficiary on the deed of trust to the house as collateral for the cash loan?
I'm sorry, I forgot to mention that I already own my home, I refinanced it to make repairs and have an agent who has listed it for sale. The agent helped me get the loan for the re-fi. The hard money loan came afterwards when the mortgage payments became more than i could afford so the agent offered to loan me money for survival until the house sold.

Does a person's credit score really matter if they are taking out a hard money loan to rehab a house and quickly sell for a profit?

Where can I find private lenders for real estate deals? I want to invest houses and get hard money, or private financing for the loans, but it is hard to find private investors to fund them. Any help would be great!

I have a hard money loan against my dads commerical property under my name and I cannot afford it anymore …do you think I can do a bk on the hard money ? thats a lien against my dads commerical property ?