Any Hard Money Lending Advice?

[Zack Takacs]

Rookie question. When getting a traditional loan, most cases start with a preapproval letter prior to placing an offer. Do you get pre approved for a hard money loan? What do hard money lenders tend to ask for/need to lend to me? I've been analyzing deals in my area and the next hurdle is financing, I don't want to show interest in a property and waste time to then go to a hard money lender and get shut down. Any advice my friends? 

[Jay Hinrichs]

most sellers want pre approval letters.. there are HML that will just give them out willy nilly just for asking .. sharp sellers know who those are and wont put any weight into those pre approvals.

Commerical bank as noted above is your best bet.. but depends on Market I know out this way you would need to be a premier borrower to get them to do rehab loans.. one off or beginner would never get approved unless your borrowing your own money that you put in the bank and locked up to create the relationship i have done that in the past.