Do you guys as investors consider hard money cash money? I see a lot of off market properties asking for cash only and was wondering if that would include hard money
Generally, yes. A "cash" offer typically just means there is no financing contingency. You could use actual cash, a HELOC, hard money, or whatever. The seller doesn't usually care where you get the money, but if you don't perform, you lose your deposit.
With one big caveat...It depends on how your offer stacks up against other offers.
Put yourself in the seller's shoes. You have a property you're selling for $100k, and you have two offers:
Offer A: The buyer is offering $100k, cash. She includes proof of funds (a current bank statement) showing she has $225k liquid cash in the bank right now.
Offer B: The buyer is offering $100k, "cash". He provides a bank statement showing he has $25k liquid cash in the bank right now, and a letter from a hard money lender saying they are prepared to fund the deal, subject to underwriting, within 10 days.
Which offer do you choose if you are the seller?
Offer B is solid. But clearly, Offer A carries lest risk and is more of a sure thing.
I would say no. You still have to qualify for hard money so I wouldn't consider money you need to qualify for cash.