How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Andy4712 Your Own Question
Andy4712
Andy4712, Accountant
Category: Finance
Satisfied Customers: 540
Experience:  Business and accounting graduate.
17793914
Type Your Finance Question Here...
Andy4712 is online now
A new question is answered every 9 seconds

I'm in search of a legit private lender

Customer Question

I'm in search of a legit private lender .i have over 500k in clear property & a 580 score & need to borrow 150k , but having trouble finding a lender who I feel is legit . ************@*****.*** if u will tell me some lenders who are legit for the 35 I'll hire you
Submitted: 7 months ago.
Category: Finance
Customer: replied 7 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Andy4712 replied 7 months ago.
Here are some private lenders:http://www.privatemoneylendingguide.com/borrowers/articles/find-private-money-lenderIs it for a house?
Expert:  Andy4712 replied 7 months ago.
Here are some more:https://www.assetavenue.com/borrow?utm_medium=cpc&utm_source=google&utm_campaign=real%20estate%20loans%20private%20lender&utm_term=private%20money%20lenders%20real%20estate%20broad&gclid=CjwKEAjwpLa5BRCTwcXS6_rpvC4SJACTDQMMvQ3UuZmHMjjh9jlH09O1aBnWfaDP9DANnGrdN2zP-xoC-yvw_wcB
Customer: replied 7 months ago.
Land ,no house on it . I have a house on 12 acres that I own free & clear that I can use as collateral also some other properties that are clear .
Expert:  Andy4712 replied 7 months ago.
Are you going to build:http://www.jordancapitalfinance.com/what-we-do.htmlIt might be hard to get a loan on just land. It might just have to be a personal loan.
Expert:  Andy4712 replied 7 months ago.
http://financing-usa.com/510-620-fico-credit-score-unsecured-loans-in-ny-ca-nc-tx-fl-oh/
Customer: replied 7 months ago.
Well yes & no . I'm planning on building a RV park on the property . It joins the 12acres w/ a log home on it , full wrap around porch , open cathedral , huge rock chimney through th center , beautiful mountain view , 3 MLS from I-75 , property is on a state scenic hwy, 8 ml from National forest hunt/fish, 1 ml fr public boat landing on river , 4 ml from outlet mall w/ all th name brand stores it will make a perfect restraunt/ bar maybe office . With this other land I'll have 40 acres total for th project . Do you think it will work ?
Expert:  Andy4712 replied 7 months ago.
They might want to take a mortgage on the log home. Does it already have a mortgage? I would just go talk to a local bank. It sounds like a business loan.
Customer: replied 7 months ago.
No I own it free n clear . True buy I only hv a 580 credit score
Customer: replied 7 months ago.
But
Expert:  Andy4712 replied 7 months ago.
The bank will probably want security for the loan. That security would be the log cabin. Are you going to rent out rooms? If they have a problem with it, then maybe you can rent rooms or run a bed and breakfast for a couple of years so you can show income and then apply for a loan if you are concerned about your credit score. You could also try and keep current with the credit you have to try to improve your score.
Expert:  Andy4712 replied 7 months ago.
Maybe you could do an SBA loan:https://www.sba.gov/What state are you in? States typically have programs to promote economic development and small business.
Expert:  Andy4712 replied 7 months ago.
Here are some options for small business loans:http://www.magnifymoney.com/blog/reviews/review-american-business-lending-small-business-loan
Expert:  Andy4712 replied 7 months ago.
Here is some additional information:https://www.sba.gov/starting-business/finance-your-business/loans/acquiring-financingIf you think I answered your question, then please hit accept. Thank you.