Financing in Austin>Question Details

Djones, Real Estate Pro in Austin, TX

Does anyone have any suggestions on any hard money lenders?

Asked by Djones, Austin, TX Thu Sep 22, 2011

I am a local builder/ Real Estate Investor. Just recently I found out a month ago the local hard money lender that I have been using for years is no longer in business. I have googled searched for weeks & days lenders, just trying to locate a legit hard money lender. I found one two weeks ago, but he took the appraisal/app fee & RAN...YES RAN....Does anyone have any suggestions on any legitimate Hard money lenders? Should I attend the REI Clubs to network? I have had it made all these years, this is so new to me looking for a new lender.

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Lending Home Funding Corp is a great source of capital. Just closed another loan with them in less than a week.

1-855 408-7694
2 votes Thank Flag Link Wed Jun 11, 2014
I agree with John, Manana Funding, Jay Otto - 775-2817

Good Luck!

Warmest Regards,

Vanessa Nunez
VOX Real Estate, LLC
vanessanunez.realtor@gmail.com
512-715-5716
1 vote Thank Flag Link Fri Sep 23, 2011
Manana Funding, Jay Otto - 775-2817.

Good luck!
Web Reference: http://www.crowehomes.com
1 vote Thank Flag Link Thu Sep 22, 2011
Check out Bay Mountain Capital as a hard money lender in Austin, TX. http://www.baymountaincapital.com
0 votes Thank Flag Link Sat Jun 28, 2014
I've used the following lender before and had a great experience:

Jeff Katz
DJ Jordan Properties / Seguro Assets

Cell: 915.309.8704
Office: 915.581.1646
Fax: 915.581.2891
200 Bartlett Drive Suite 106
El Paso, TX 79912
0 votes Thank Flag Link Thu Jun 12, 2014
David Buttross 494-1111 he is a hard money lender
0 votes Thank Flag Link Wed Oct 19, 2011
Yes!
Contact Curt Nelson at curtnelson1@mac.com
Great guy who is easy to work with on transactions.

Theresa Ott Boisseau
KW Realty
tottb@kw.com
0 votes Thank Flag Link Thu Sep 22, 2011
Of your answers below all of the recommendations are actual lenders and 4 of the most prominent lenders in Central Texas.
Pride of Austin Capital Partners, LLC (A Regulation D Security and the only local lender that is a member of American Association of Private Lenders http://www.aaplonline.com)
First Capital Funding (A traditional hard money lender using fractionalized mortgages)
Jules Caplan (An individual)
Jay / Manana Funding (A group of inviduals)
There are others to be sure: Vince DiMare, Stallion Funding, Steamboat and others.

All of these listed are actual lenders and not just brokers pretending to be lenders. One way to check on a lender is to run a search in public records for liens filed against real properties in the lender's name. Real lenders will have liens recorded with the county clerk. However, in the case of a fractionalized mortgage the liens are files in the name of a trustee or in the names of the fractionalized investors so researching filed liens in the names of sum lenders might be tricky.

Sorry that you were taken by a "fee taker" but Marco's advice is inaccuate when dealing with private lenders. Most ask that third party fees be paid by the borrower during the underwriting process.
0 votes Thank Flag Link Thu Sep 22, 2011
Jules Caplan
512-751-2134 Cell
512-453-4990 Work
jacaplan@swbell.net

Sincerely,

Kristee Leonard, Broker
The Leaders Realty, LLC
512-695-5144 Cell
kristee@theleadersrealty.com
http://www.theleadersrealty.com
0 votes Thank Flag Link Thu Sep 22, 2011
If anyone would know it would be Wayne Morgan. You can find him at the Austin Institute of Real Estate.
Kendred Manceaux
Team Leader Capital City Realtors Team with Keller Williams
http://Www.ccrin austin.com
0 votes Thank Flag Link Thu Sep 22, 2011
Hello. This group is local and fantastic to work with...

http://www.prideofaustin.com

Pride of Austin Capital Partners
512-687-3456

Ask for David and do tell him Eric referred you. Good luck!
0 votes Thank Flag Link Thu Sep 22, 2011
Title companies and REI clubs are a good place to start. NEVER, Never pay up front for anything but an appraisal and even if you do that make the check directly to the appraiser. Sorry you got burned but there are a lot of fee scammers out there right now that give everyone a bad name. I'm located in San Antonio but close deals in Austin regularly. I get paid when the loan closes, pretty simple really. I do both commercial and residential. Let me know if I can help.

Marco Bolado
210-549-5777
210-485-1154 fax
marco@entrustequityfunding.com
0 votes Thank Flag Link Thu Sep 22, 2011
These guys are the best around...http://www.pcapfund.com/about.html

Ask for JP or Ray and tell them John McClellan referred you.
0 votes Thank Flag Link Thu Sep 22, 2011
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