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Private Lending & Conventional Mortgage Advice

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Shane Mcc
  • Real Estate Investor
  • Cranston, RI
8
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25
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Pros/Cons of Hard Money Lending?

Shane Mcc
  • Real Estate Investor
  • Cranston, RI
Posted Dec 27 2014, 12:41

I've been combing through a lot of hard money loan questions people have been asking the past few years and a lot of the questions often come from the perspective of someone trying to obtain a hard money loan. I know this website/forum primary focuses on real estate investing in homes, multi-family, commercial etc.. but I'm going to ask a question coming from the perspective of the hard money lender (I'm not actually a lender)

  1. What are the pros of being a hard money lender?
  2. What are the cons of being a hard money lender?
  3. If one of clients (the person your lending money too) declares bankruptcy can you (as the lender) lay claim to the property because it's an asset-based loan? or the fact that it's an asset-based loan does not matter and you can't legally claim ownership of the property
  4. I know this question is local specific but whats the typical APR on an hard money loan?

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