You still lending hard money for land and commercial properties? I hear that all lenders have shut off the spigot.
If you have a "common sense" loan scenario, then I still have money to lend.
For me to make a loan, I cannot stress how important the "true" value of
the property is.
Almost every call I get now is someone who says, "The land
is really worth $2,000,000 but because of my special software (or whatever),
I am able to purchase the land for only $500,000.
So, I need a loan for $1,000,000 to buy this $500,000 property..."
PASS.
Not what I do.
Thanks for playing.
PS - want a $250,000 loan to buy that $500,000 piece of land? Let's chat then.
For me to make a loan, I cannot stress how important the "true" value of
the property is.
Almost every call I get now is someone who says, "The land
is really worth $2,000,000 but because of my special software (or whatever),
I am able to purchase the land for only $500,000.
So, I need a loan for $1,000,000 to buy this $500,000 property..."
PASS.
Not what I do.
Thanks for playing.
PS - want a $250,000 loan to buy that $500,000 piece of land? Let's chat then.
