Hard money leanding

[John C S.]

Hi everyone can someone please explain to me the difference between a hard money Leander and a privet lender. I want to acquire a down payment for a 9 unit. Thanks.

[Josh Caldwell]

yes, the hard money lenders are harder to pay back because they charge more for the money in general.  Hard money can come with points up front, I have seen people charging up to 5 points.  They also charge anywhere between 9 and 15%

Private money on the other hand is whatever you can negotiate.  I have one private lender who is happy to get 3% and no points.  Guess who I want to borrow my money from?

I hope that helps

Josh