"Your skin is your score" on eligibility for hard money & 100% financing to buy/rehab distressed real estate
Date: Fri, Apr 15, 2011 at 9:26 AM
Subject: Repeat Q&A for 100% financing to purchase and rehab distressed real estate
Dear daily "inquirers",
Re: Do we know any hard money lenders that don't require a credit score?
We already answered this question before for years. Note we've profiled several sources of real estate funding + 300 other types of VC, P/E & other capital on blogfeed for AGES!
And here is a question I have. The new hard money lender for REO's (posted 2/11 on blogfeed) says 100% funding. Wouldn't you want a credit score if you were doling out the cash?
Normally, hard money approval criteria means you have "own skin in game" which typically means about 25-35% LTV. This negates need for any credit score. Your skin is your score. And yet there are those who STILL don't know this.
So... credit score or skin in game. Which would you prefer? And if you have neither...then why bother to attempt to make a $100M purchase?
Also, at some juncture it has to occur to people our blogfeed of 300+ finance topics/sources is just a courtesy & not an expectation. Any other IR firms in the yellowpages begin to "attract" capital from scratch upon being hired by a contractual client.
Also, our blogfeed and website are the extent of our complimentary consultation. This is mentioned under FOCUS on WHAT WE DO page of www.Globalcrossroadscapital.com. If it wasn't we'd have to triple our call center staff and add swing and weekend shifts.
As a reminder, CFO advisory services are not a brokering service based on commission. And last I heard there are toll-charge services advertised on TV that will answer ANY question you phone in for 99 cents each.
Jeffrey D. Allen, CEO
www.Globalcrossroadscapital.com
US Vet-owned, SBA-certified, DUNS-listed IR media firm
http://SinCityFinancier.posterous.comskype phone: SinCityFinancier
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