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Andy4712, Accountant
Category: Finance
Satisfied Customers: 541
Experience:  Business and accounting graduate.
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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: 1 year ago.
Category: Finance
Customer: replied 1 year 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 1 year ago.
Here are some private lenders: it for a house?
Expert:  Andy4712 replied 1 year ago.
Here are some more:
Customer: replied 1 year 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 1 year ago.
Are you going to build: might be hard to get a loan on just land. It might just have to be a personal loan.
Expert:  Andy4712 replied 1 year ago.
Customer: replied 1 year 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 1 year 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 1 year ago.
No I own it free n clear . True buy I only hv a 580 credit score
Customer: replied 1 year ago.
Expert:  Andy4712 replied 1 year 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 1 year ago.
Maybe you could do an SBA loan: state are you in? States typically have programs to promote economic development and small business.
Expert:  Andy4712 replied 1 year ago.
Here are some options for small business loans:
Expert:  Andy4712 replied 1 year ago.
Here is some additional information: you think I answered your question, then please hit accept. Thank you.