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Ryan Burke
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What is the best hard money lender?

Ryan Burke
Posted Feb 19 2024, 16:48

Hey everybody I need a small loan for a new flip I am doing and I was wondering who the best hard money lender was? Thank you

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Chris Seveney
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  • Investor
  • Virginia
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Chris Seveney
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  • Investor
  • Virginia
Replied Feb 19 2024, 17:15

@Ryan Burke

This is like asking what is the best car? But the car is dependent on if you are family of six or are you a single person. Do you drive in the snow or do you live in a hot climate. Lenders Specialize in different types of lending. Some are really good with new construction, some really good at renovation, it is also very dependent on the amount that you need. Anything under 75,000 or 50,000 you might want to consider a local small private person or friend and family as hard money wonders do not that low dollar amount.

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Ryan Davies
Lender
  • Investor
  • Salt Lake City, UT
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Ryan Davies
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  • Investor
  • Salt Lake City, UT
Replied Feb 20 2024, 07:29

There are a ton out there. It really depends on your situation.

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Kiernan LaFaver
  • Real Estate Agent
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Kiernan LaFaver
  • Real Estate Agent
Replied Feb 21 2024, 00:49

I have a lender in the Syracuse area (although I believe they’re in multiple states) that finances the large majority of purchase price and rehab costs. Would be happy to extend their info as a resource

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Pedro Campos
  • Lender
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Pedro Campos
  • Lender
Replied Feb 23 2024, 14:39

@Ryan Burke It depends, but most lenders accept $50k as the minimum loan amount. Location is a big factor as well. Some lenders may not lend nationwide. Working with a lender is all about trust and relationship building. There are lots of HMLs out there, but it's good to have a few you can rely on for your projects...

This is all coming from an experienced, real-life lender 

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Richard Loniewski
  • Real Estate Agent
  • New Jersey
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Richard Loniewski
  • Real Estate Agent
  • New Jersey
Replied Feb 23 2024, 19:02

I can help but minimum loan amount is 50k, I'm more than happy to jump on a call and discuss details?