New lender seeking advice

[Logan Gill]

Hello everyone! My wife and I were recently asked if we offer hard money or short term renovation loans. We primarily deal with flips and buy/hold but are considering trying our hand at lending. At least early on, this would be $150,000 or less. What advice would you offer someone that is new to lending? What are the norms (rates, terms, etc...) for renovation loans? For example, a request for $25,000 on a projected three/four month flip. Thank you in advance for your input and advice. Logan