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I pull down $20 million deals in my spare time. What do you need chief?

I’m looking at a position at a firm that is a rehab loan lender, interested if anybody has more info about these firms.

I’ve been a borrower on rehab loans and as far as I can tell it helps to be an unreasonable, unaccomodative d-bag.

…is it a portfolio lender, a bank, other?

It’s not a bank, it’s a RE Finance firm, I believe the term they use is “hard money”. It’s a relatively new firm, and I’m not real familiar with the industry, so trying to get an understanding of exit opps.

whoa whoa whao, hard money lending is a totally different ball game. is the owner’s name Carmine or Luigi or some other Italian cliche?

No…why? I"m lost. Is there a difference between rehab and hard money?

There are plenty of legitimate hard money lenders. They simply provide bridge loans when traditional lenders aren’t interested because the property or the deal has some hair. For example, if you want to buy a residential property that needs a ton of work and you don’t want to bring a ton of equity to the table, Wells Fargo isn’t going to be interested. Hard money lenders will step in and lend you 65% - 70% of the after-repaired value (ARV). Of course there is a lot more risk, so a hard money lender is going to have very strict terms and comparatively high rates. The loan will be pretty short-term though, so the rate doesn’t kill you. Think “Flip this House” or “Property Ladder”. Those folks are likely getting hard money.

http://www.analystforum.com/forums/investments/91308860

my mafia comment was tounge in cheek. hard money lending could actually be pretty interesting. as higg said, you’ll be looking at deals that traditional lenders won’t touch so you’d be underwriting some unconventional and interesting risks. sometimes it’s a time factor where the borrower needs the money ASAP and a traditional lender doesn’t have the time to go through normal due diligence to get the loan approved. those deals seem to be a bit more like gambling.

Palantir, don’t know much them myself, however, try contacting Edmundo Braverman (username, you can call him Eddie) over at WallStreetOasis. He is regular there and very knowledgeable. I don’t believe he’s currently in the business, but if I remember correctly, he dealt a lot with hard money lenders in the past and might have some good insight for you.