Joshua,
There is a long list of individual projects from several sources but here are two:
1. Pre-sold building needs 660K for purchase/repairs - ARV $1,200,000. The end financing bank will deliver a LOI once the repairs are done, that's why the hard money is needed. Solid financials on buyer. This scenario is typical for all of the projects seeking HM.
2. 15M is needed for operating capitol/start another project and can be secured by 70 million in free and clear property. (commercial development projects, an ethanol plant and mines and maybe others)
In addition, there are Free and Clear office buildings, strip centers, shopping centers, development land, residential and commercial, warehouse and industrial buildings that all need hard money to do repairs/development so the end financing can be put in place.
The exit strategy is in place for each project with verbal commitments from the banks with LOI's given after repairs. If the HM lender/broker also wants to do the end financing that's ok as well.
I hope this helps, If individual HM lenders want to send me their general criteria I'll try and match them with the Investor/project.
Thanks, Stacy