Just a short blog this evening, and the topic is private money lenders. I first have to say that I am still being inundated with propaganda from lenders telling me they can finance this or they can fiance that. But you know what? When you ask them about a specific project their answer is no we don't do that anymore. Or no we are not financing land anymore.
But why do they consistently send out advertising material asking for these loans, if they are not going to fund them. I have no answer to that question, but just be aware that loan programs are changing drastically. Work with someone that you know and trust. Don't follow up with lenders that are mailing you mass material so that they can bait and switch you or your client.
I want to leave you with this point tonight. I received an e-mail from a hard money lender who was always looking for land deals. We followed up with him about three weeks ago and stated that we had a deal that met all his requirements that he posted in his blurb looking for deals. He told us that he could not do the deal for us as it did not match his current lending criteria.
Well today I receive an e-mail from that same lender stating they are now looking for small deals only 25 k to 100K, boy have things changed!
View our recent closings to see the type of quality deals we are consistently closing.
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