Beginner or Experienced Investor! What do you wish you knew?

Question

Hey everyone,

I hope you are having a great day so far. I am a Hard Money Lender based out of Boston, MA. I wanted to get everyone's insight on what they wish they knew about the hard money process when you first started. Please leave your comments. I would like to see your point of view. Thank you in advance.

Joel Bongco · Answer

@Mauricio Florian - Hard money is expensive! Especially, for a newbie who does not have any credibility or HUD1's to show experience -- getting favorable terms is hard unless you have someone credible vouch for you. Secondly, fees, fees, fees.... appraisals, draws, extensions, are all costs to the investor and eats into the your margin. Finally, all the red tape with inspections, lien releases, permit packages....HTHS! Joel

Beginner or Experienced Investor! What do you wish you knew?

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