I hear a lot about Hard money Lenders, Private money, etc etc

4 Replies

What are some things or requirements that I should keep in mind or make a check list of before pursuing a hard money loan or private money?

Hopefully I’ve worded this correctly.

Thanks.

@Nehemiah Smith I would reach out to a broker that can give you some guidance. There is always someone willing to teach or send you to the right direction. A second option is to join meetups.com and find a RE investment group as @Matt M. mentioned. 

Private doesn't look at income and is fully based on credit and the property. They're typically long term, while hard money is short term. Hard money is usually 12-24 months and at a much higher rate. Private lending can be low 5's while hard money is usually 8% - 12%.