I am in the market for a hard money loan if any of you are interested in recieving 15% return on your investment. I will collateralize a 15k loan with a rental property I own worth 30k that is rented currently for $350 per month or (2) I would collateralize a 40k loan with a rental property I own worth 86k that will be rented as of Jan 1 for $750 per month. I will pay 15% interest on either loan and can provide a free and clear warranty deed on either for anyone interested in making 15% interest on their money instead of what your bank gives you. I will be investing the money in another rental property or maybe even two if it works out incase you are wondering where the funds will go.
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I think I am gonna throw this on Craigs List too. Just took a stab in the dark here.Comment -
Sign me up for this. Pay me whenever you can no worries were all family here at SBR.Comment -
i am also interested
inform me please what should i exactly doComment -
If you are really interested and not jerking around we can draw up a contract and I will overnight it along with the warranty deeds and pics of the property and the funds can either be wired or a check overnighted back. I figured I would shop the loan here and craigslist befoer dealing with the banksters because they are criminals. Hard Money lenders are always the best way to go if you have collateral.Comment -
Not to throw a wrench in it for anyone, but this is a big part of what I do for a living and let me though some quick advice for the 2 of you. Have a title company or attorneys office draw up the paperwork, not either of you. Its in the best interest for both of you. Either will charge you a fee, usually less than $1000 (usually paid by the person taking the loan), but I would touch anything without some due diligence even for 50% interest. BOL to both!Comment -
Absolutely check out the whole deal,the properties,etc. I can provide links to the tax appraisers website and submit all my financial info for a serious inquiry but not to some degenerate $25 gambler who doesnt have anything to invest anyway. I planned on finding a few of those before making a deal with somebody who has bargaining chips.
Thanks jrmartin your advice is sound by the way.Comment -
BET, I also advise you to find your local REI (Real Estate Investment) Club. There are always people there with some money to invest that would jump on this. Hell if this was in my neck of the woods I would already be at the title company. Most of the time, its a hell of a lot easier to get some real money moving when its in peoples back yards and they feel they have a little more knowledge and control. Also, if you have a local Entrust office, they usually put together monthly investment meetings for those who have money with them. Always looking for deals that are a lock and if what you say on this is true, its this way as well.
Dont let anyone charge you an up front due diligence fee.
BOL
JohnComment -
Thanks man I actually found a hard money lender local and borrowed 60k on the pair at 12% interest which was even better for me.Comment -
Congrats, best of luck with it!Comment -
Guess the jokes on me because I dont know your land line.Comment -
let me give you a bit of advice. Dont come to a sports gambling forum with a bunch of fukkin barreled in buried gamblers looking for a loan. better chance at scoring meth at you're local police stationComment -
Thanks idiot but I got the deal done and it was with a SBR member. Thanks SBR. Not everybody here blows all their cash on gambling. Some of us make other monies doing other stuff. Go back to doing whatever it is you do.Comment
