Presentation to Hard Money Lenders

[Alyscha Johnson]

What should be included in a presentation to a hard money lender? Should the presentation be over the phone or in person. Finally, do HMLs require a down payment on the loan? If so, what percentage of what?

[David Weintraub]

@Alyscha Johnson l

Preliminary HML questions are:

1) How's your credit?

2) Any background issues I need to know about, like bankruptcy or foreclosure?  If yes, explain when they happened, etc.

3) How much investment experience you have?

4) Where's the property you're purchasing?

5) Address? Purchase Price? Expected rehab cost? Expected ARV?

Then they may ask you to fill out an application to get a better understanding of you, assuming all of these above questions check out.  You can email the answers to these questions as well, and set up a time to talk, this way when you call you're on the same page.  And they can give you a general idea of what they'll loan, and what it will cost you.