Do 100% Hard Money Lenders Exist??

[Guye Ferg]

Hello BP!

I'm brandy new to investing and have a "potential" deal(not under contract yet). ARV 215(5-10K below market for quick sale), repairs 40K Conservative, Max offer 115K.

I don't have a lot in liquid cash less than 15K. I though I could leverage that by using a HML, but all(so far) want monthly payments for 6 month loans, and one is asking I bring 50K to closing!!

Am I just being new and naive thinking I can do a deal like this only bringing 10K MAX of my own money, or should I just keep shopping?

BTW, My plan or hope was to use my cash for reserves and to pay the contractor while I wait for the draws to clear.  I'm in NoVa if that adds any perspective