I'm new to investing and had a question on hard money. Would it be better to get funding or at least proof of fundd from a HML before making an offer or is it easier to get money once I'm Under contract?
Also what is a good contract to use to make offers? Where can I find it?
I noticed you're from Tracy, and I'm in the Bay Area too. Classic question about the chicken and the egg. However, it depends. Hard to put offers out there without some type of POF, and also hard to get a HML to even chat very much without a deal property in hand or mind. My suggestion is to ask whichever HML you're trying to use what they can offer before you make an offer. Just see what they have to say. It will most likely be a generic pre qual letter just like a conventional lender would issue you. And obviously you should have some type of POF on your side as well as I'm sure the HML isn't putting up 100% of the costs?
Hope that helps!
Most hard money lenders will tell you they prefer to know who you are before you come to them with a deal out of the blue. That way you know their criteria and they know a little about you.