Financing in Portland>Question Details

Hflashman, Home Buyer in Portland, OR

Hard money loans using non real estate collateral?

Asked by Hflashman, Portland, OR Fri Jul 19, 2013

Proceeds from timber harvest. 25% ltv. Harvest 2014, proceeds available late Spring. First position irrevocable assignment would be filed and held by trust fund atty. Small loan ($20 k) . Is thus a doable hard money loan ?

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It really depends on what company you go with. Some are a little bit more lenient on what they'll accept as collateral for loans. They'll probably also want to know what you're using the money for. If it's a legitimate purpose, they'll be more willing to work with you. Like I said though, with collateral loans, it all depends on company you talk to.
0 votes Thank Flag Link Mon Feb 23, 2015
Hard money lenders are licensed by their state real estate departments and the loan would need to be secured by real property. You would have to find a private investor who was comfortable with this situation. Good luck.
0 votes Thank Flag Link Thu Feb 19, 2015
And provide fire insurance, lol. Sounds like my old creative financing seminar days around 1982. Times are tough. Not much 'hard' money is out there and people with it can do many great things for high return. This sounds like a long range return and quite a risk. Good luck. Go to the in ternet and look up 'selling paper', notes for sale', note investors', private financing' etc. There is a giant site devoted to matching hard money people with projects but I cant remember the name---it does have the word 'paper' in its URL.
0 votes Thank Flag Link Fri Jul 19, 2013
I’m sure you could find an investor that would do that it would be expensive and might not have enough margins. I would think you would need to provide a timber cruise, bids for the harvest and net sheet to investor. Google hard money Portland and call them. Good luck.

Kevin Sucher
Principal Broker
0 votes Thank Flag Link Fri Jul 19, 2013
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