Posted on March 3, 2010.
hard money?? I want to invest in real estate, but my credit is crap. I learned about hard money, mainly loans to a high rate. I think that is my only way in. My plan is to get the money and repair the houses and what is the use for the monthly note. Basically repay them with their own money. Do you think this is a good idea? Where do I start to find a hard money loan?
Okay, hard money loans are always an interest rate very high. They also require you to put some $ $ $ on a sale. Usually we talk about 25% compared to a hard money loan.
Your best bet is to find a co-signer wishing to use their credit to you. Relatives, friends, lovers, etc. This will give you a better loan and may not require money down. You can send me an email if you want help, I am a senior credit officer and realtor.
I would not do if I were you. Try building your credit. Chances are if you credit sucks, how are you still afford to pay money and all these interests. You make a lot of tenants. He will take your money and money from tenants to pay all that money and years and years ago.
Let me give you links to search our records that the U.S. government has provided the public response to your question by offering shopping possibilities proterties Government etc., but Yahoo Answers said that links with appropriate responses to issues as spamming and use of sources from which these links are advertising and instead they just written answers from sources that are not qualified to provide such answers. Here is their letter to me:
You have displayed the Yahoo! Answers in violation of our Community Guidelines. Therefore, your content has been removed.
Question: Where can I find codes for rental units buidling Los Angeles? Then I went to no heating? Help please.?
Details of violation: All real estate laws explained: http://www.dre.cahwnet.gov/reftoc.htm ... a‚¬ a„c S STATE WEB SITE: http://www.dca.ca.gov/ STATE a‚¬ a„c SLANDLORD Tenant Act: ... http://www.leginfo.ca.gov/cgi-bin/waisga HUD ac a‚¬ "the rights of tenants in California: http://www.hud.gov/local/ca/renting / tena ... Pamphlet of the State of California homeowners and renters: ... http://www.dca.ca.gov/legal/landlordbook websites Cities: http://www.labormarketinfo. edd.ca.gov / cg ... Home owner and renter assistance programs: http://www.ftb.ca.gov/individuals/hra/in ... a‚¬ a„c s Private Attorneyac site / Tenant Issues : http://www.caltenantlaw.com/ State Bar Association: http:// www.calbar.ca.gov / State / calbar / ca ...
Source (s):
http://www.realestateformnm.com ...
Reason for violation: Spam & Advertising:
I agree real estate is a good investment, but you need to look hard if its worth paying a higher percentage rate of interest
Do the math
1 - you can afford the monthly payment.
2 - is it going to be a positive cash flow
at the end of the month, when the note is paid
3, it is worth you really make money?
I do not want to give a negative staining on what you are trying to do, but there are consequences you have to think, the more money.