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Hello CFD Community,
*If this post is inappropriate- let me know and I will remove.
I am your traditional mortgage lender and I have been coming across more situations lately if people wanting a hard money lender. Typically, these are for flip projects.
I figured I’d check with the community first for any great recommendations.
I am located in Boca Raton, FL.
The specific scenario I have now is an investor who has a vacant lot he paid $13m cash for. It is on the water and in the most prestigious private country club in area. He is developing a mansion there with an estimated value once complete in excess of $30m.
Is wanting a hard money loan on his land, preferably up to 50% LTV to use towards other investment opportunities.
Thank you all,
Conor,
You are most welcome to post a need.
A good place to find hard money lenders who loan your needed amount is at Exchangers meetings.
In my area of Florida, there are two Exchanger meetings I regularly attend: St. Pete and Sarasota. I’m sure there are similar meetings near you.
Being that your borrower is wanting to use land as collateral, it will be a more difficult sell, but it can still be done.
Hope this helps.
Bill Cook
Conor,
You are most welcome to post a need.
A good place to find hard money lenders who loan your needed amount is at Exchangers meetings.
In my area of Florida, there are two Exchanger meetings I regularly attend: St. Pete and Sarasota. I’m sure there are similar meetings near you.
Being that your borrower is wanting to use land as collateral, it will be a more difficult sell, but it can still be done.
Hope this helps.
Bill Cook
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