Questions about the Hard Money Process
Hello BP,
I was hoping someone could give me clarification on how using hard money works. I've never flipped a property before but thats what I'm looking to do. I want to get my financing in order first and hard money is looking like the best option for me so far.
Do I need to line up a hard money lender before I have a deal in place or do I need to present a deal to a hard money lender initially for consideration?
In either situation, what kind of verbage and documentation should I be using with the seller? I will be targeting distressed single family homeowners via direct mail.
Can someone please walk me through what this process looks like?
Thanks in advance. BP has been a great resource for me and I look forward to the day that I can give back as well!