I believe it was on this forum, I had a person send me an email about short term loans, hard money for flips.... I have some wholesale deals I need funding for and only need money for very quick flips.... was it anyone here? Anyone got any sources they can send me to?

Thanks...

Got to www.reiclub.com then click on the Hard Money link.

They have HML's listed by state and contact info.

what's the average interest rate you guys are seeing on hard money?

In the good markets you could get hard money for 10 to 12 percent and 2 points. You could also have a 520 credit score.

Hard money loans are pretty much a joke now.
Most want 14 percent or higher with 4 points or more and a credit score in the 680's.

Well your asking if they want all that why not get a regular rehab or investment loan for a cheaper interest rate and no points? EXACTLY

If you can put some money down and have good credit that's the better way to go.The reason hard money lenders upped the credit requirement is because they want to know if you are having a hard time selling it in 3 months they can DUMP you off to get refinanced with another company.That way they don't have to foreclose or take back a problem property.

Hard money lenders eat up alot of the potential equity in the deal to make there nut upfront. Most of these companies are former rehabbers. You would be much better lining up private cash financing from someone who is tired of getting pounded in the stock market.