Hard Money Lender (loan, financing, loan, properties)

[MattCStone]

I have an investor who put down deposits on a few condo projects that complete during 2008. He cannot get conventional financing for any more than two of the four properties. Does anyone know any "hard money" lenders who will loan him 90% of purchase price? These are condos that he intends to flip.

[Philip T]

A little surprising he found financing for even two.

I guess you must track the market, and speculative flips on condos is not considered a favorable one to play in right now?

So I suppose he is looking at losing the deposits now, but that beats a bigger loss, later, right?

[rwally]

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