Finding Hard Money Lenders

[Lea Simpsons]

Hard money lenders may be private individuals or institutions that offer loans to people who have a bad credit or to borrowers who want to come up with financing in the soonest possible time. The best
feature of a hard loan is the speed and convenience that it offers to borrowers.
Unlike borrowing money from banks, most hard money lenders will not require you
to have a high credit score. You will not be asked to submit financial
documents. And the best part is that, your loan may be approved in less than 72
hours!

Lea Simpsons

REHAB-REAL-ESTATE

[Robert Dowell]

Hi Lea,

Sounds great. Beginner here. How do you find these hard money lenders? What type of deals to they typically do to protect their interests? Do they ask for an interest rate of say 10% or more to bad credit people? Or do they get into more of a Rent-To-Own contract? Promise to sell at a certain amount as long as certain conditions can be meet?

What questions did I not ask? :)

[Lilly Gilmore]

Hi, Robert. Allow me to answer some of your questions. You can look for lenders in your local REI clubs or better yet, through the Internet. Many hard money lending companies are now doing business online for it is definitely much more convenient for everyone involved. They type of deals they fund differ according to the lender. Some would just deal with residentials, or just commercial ones, handyman specials, REOs, etc. Because the business is now more competitive, most lenders follow the standard rates and terms nationwide.

I hope I have answered some of your questions. You may visit us if you have more questions about hard money. Thanks.

Robert Dowell said:

Hi Lea,

Sounds great. Beginner here. How do you find these hard money lenders? What type of deals to they typically do to protect their interests? Do they ask for an interest rate of say 10% or more to bad credit people? Or do they get into more of a Rent-To-Own contract? Promise to sell at a certain amount as long as certain conditions can be meet?

What questions did I not ask? :)

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The Future of Real Estate Investing | Making Hard Money Easy