East Cleveland, OH Hard Money Lenders
East Cleveland, OH hard money lenders have been working out of this city for years. The city has a population of about 25,000 to 30,000, and is in the county of Cuyahoga. The city’s encompassed by the cit of Cleveland proper.
East Cleveland, OH hard money lenders have been working in this Ohioan city for years. And the thing about their business there, is that borrowers are happy about the fact that they don’t have to report their credit scores in order to utilize these debt products. All that’s needed is real estate. Let’s get into this a bit.
Think of East Cleveland hard money in the same way that you view a credit card. Only this isn’t a regular credit card, it’s a secured credit card. What does this mean? Well, it means that a line of credit, or rather a loan, will be extended to you, but you’ll have to back the loan with an asset. In the case of hard money lenders in East Cleveland what you’re going to have to back the asset with is a “hard asset”, as in real estate. See, this is still a loan product, it’s not a mortgage, but a loan product, but the thing is, it has to be secured. Without this backing, you will not be able to do business with a hard lender. But, if you can furnish some collateral, some real estate, you’re golden. Because you won’t have to get into issues about your low credit score. To the hard commercial loan broker, your real estate is your credit score.
December 9th, 2010 at 3:23 pm
Dear Hard Money Lending Dept;
My name is Jack Campbell, I have a client whom I have secured loans for in the past in the Hospitality, Multi Family, Boutique Hotels & Condo Hotels. They have already bought and rehabed commercial properties in Dayton Ohio. They have an opportunity to purchase an apartment complex consisiting of 325 units for a loan to value of 62%. The complex cash flows enough income to cover its bills and they are looking for a short term hard money loan. They are looking for a loan from $800k To $1.3mil depending on the complex that the lender feels comfortable with!
I am updating all of thr groups information such as history & experience of the buyer(s), credit and financial Strengths. Then I will get the purchase agreement and rent rolls, income & expense foe 09 and a YTD for 2010 among other documents needed to prove up the viability of the deal, purchasing an apartment complex. Does your company lend in Dayton Ohio?? I see you lend in East Cleveland, so if U could let me know if this maybe a deal that you may have an inyerest in, you can contct me at;
Jack E Campbell Jr.
First Select Commercial Lending Corp
7363 62ave N
Pinellas Park Fla 33781
I would appreciate!!