Financing in 78738>Question Details

TORO,  in 78746

Is anyone doing 70% hard Money in Austin? Lot clean and clear, Lot value $60k, need $200, Lakeway, Tx?

Asked by TORO, 78746 Thu Mar 6, 2008

quick loan. have permits, project, specs, gral contractor, insurance. Need quick loan. Lot is payd for, want to use as collateral.

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I agree with Perry. In my 5 years in the business, I've never closed a hard money deal. At first people love the "idea" of asset-based lending, but when they look at the 5-7 points and the 15%+ interest rate, suddenly the idea isn't so hot afterall. http://www.mylendingplace.com

Your best bet is to approach your bank, or possibly SBA lending. Sure it's a pain but so is 15% interest.
1 vote Thank Flag Link Fri Jul 4, 2008
I'm willing to help you, please contact me thru my Trulia profile.
0 votes Thank Flag Link Thu Oct 3, 2013
I'm willing to help you, please contact me thru my Trulia profile.
0 votes Thank Flag Link Thu Oct 3, 2013
I know someone that could assist with this.. Contact me if neeed be. http://www.sellinghomesforfood.com
0 votes Thank Flag Link Mon May 25, 2009
I'm sure you've already moved forward with this project, but if not... I work with multiple local hard money lenders here in Austin. I'd like to find out more regarding your project and see what which one of my lenders might be the best fit. If you and your project are pretty solid we should be able to get to the 70% your requiring. Please contact me and I can give you a list of items I'd need to get a letter of intent in your hands.

Best regards,

Ted Esquibel
0 votes Thank Flag Link Mon Jul 28, 2008
We have a 75% loan to value (After appraised value) or 95% construction cost. Terms are 3pts. and 12.99% no pre-pay, 6-9 months term. Let me know if your interested.
Shauwn Digman
210.621.7031
sdigman@isbcapital.com
0 votes Thank Flag Link Mon Jul 28, 2008
Dear E.P.,
Were you able to pull this off? I would be interested to know who you found, as I don't currently have a hard $ Lender. I did not know they still existed. Thanks!
Betina
0 votes Thank Flag Link Fri Jul 25, 2008
Ep:

Did you find that hard money lender? I am just curious as to what you ended up paying? Did you try your local bank and put up the lot as collateral? Hard Money is just that HARD and expensive.
0 votes Thank Flag Link Tue Jul 15, 2008
Yes - 5 points 16% interest..... And it better have a good history of value
0 votes Thank Flag Link Wed Mar 12, 2008
would love to take a look what you have. We have several options, that I think would work for you. My contact information is sdigman@isbcapital.com. Take a look at our website for further details.
Web Reference: http://www.isbcapital.com
0 votes Thank Flag Link Fri Mar 7, 2008
I don't know of any. There is a local builders supply co. that will give a construction loan for materials. Interested?
0 votes Thank Flag Link Fri Mar 7, 2008
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