Hard money lenders for real estates. The best way to find money for your real estate projects.

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Check out the link below for more resources:
http://hardmoney.toufangle.com
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What is a Hard Money Lender?
A Hard Money lender is an individual or a small company who lends to individuals with special
needs to purchase their homes. These money lenders lend to those individuals who would find it
difficult to get a home loan elsewhere. Hard money lenders will normally lend at a significantly
higher interest rate and would normally lend money only when they feel that there is enough equity
in the house which if the debtor defaults can be sold and recover the loans.
That sounds scary
Hard money lenders in Cleveland Ohio area are not loan sharks so you don't need to worry about
broken bones if you end up defaulting. These are just shrewd individuals who are filling in a gap
which exists currently in the home loan industry. For instance traditional home loan lenders are
wary of giving loans in a remote place say building a cabin near the Yosemite National park, this is
where the Hard Money lender will step in.
Having said that, the interest rate will be quite steep, most probably in double digits and they
would require around 40-50% equity of your own so that if it comes to foreclosure their part of the
money is safe and they can recover it.
A few tips on finding the Hard Money Lenders
Hard Money lenders are normally difficult to find and if you use these tips it will help you to locate
them:
They look to operate within a given geographic distance so that they can check out the property
themselves and make sure. So if you want to look for hard money lenders in cleveland ohio area,
you should look up the local classifieds and look for listings like "Trouble Finding a loan? Call us,
Private Money Available"
You can call up the mortgage brokers in and around the Ohio area and ask if they have any
contacts of private investors who will be willing to put up money.
You can look up the web and you will find links to various sites which will point you towards hard
money lenders. For instance loans-only.com or REIclub are websites which purely has listing of
Hard money lenders where you can seek out hard money lenders in Cleveland Ohio area.
L2P Network looks like a starting point for anyone looking for hard money lenders in cleveland

2. ohio area and here you can get the contact numbers of various people for this purpose and who
can then further lead you to the right people once they understand exactly what it is you are
looking for.
Mercury Capital and Kennedy Capital are two other sources if you require funds greater than a
million dollars. They have hard money loans which cover the entire country including Ohio.
Spread the word around and look out for middle men. Normally one is advised to avoid middle
men but in this case it is better as they are actively seeking people who have money to invest and
people who need money to loan out and may be able to help you out albeit a commission.
Is there anything I should be careful about?
One is you should be careful of some guys who will try to trick you into some sort of a deal where
in it becomes very difficult for you to pay and you end up in foreclosure. A good idea is to keep in
mind that you should have 35% of the property as equity in order to take care of the 12% - 18%
that is normally charged on these loans.
Second is you must be careful about the repayment and at the first sign of trouble you should
contact your lender and try and sort out a deal to avoid foreclosure.
Author - Bill Darken - There's a good student loan area along with more relevant general loans
assistance such as home, car, and consolidation loans. There are highly informative eye opening
articles and up-to-date loans news as well, see it here at hard money lenders or if the previous link
is not working, you can paste this link in your browser - loans-only.com.
Article Source:
http://EzineArticles.com/?expert=Bill_Darken
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Check out the link below for more resources:
http://hardmoney.toufangle.com
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