Information to include for Hard Money or Private lender

[Adam Nesheim]

Hello BP!

I work as a residential construction foreman in Billings, MT. I have an opportunity to buy a small house (500sf) on a large duplex lot (7000sf). My wife and I cannot afford the purchase price and rehab together so we are looking for hard money lenders or private money lenders. This would be our first house to do a fix and flip or BRRRR. We don't have much experience but I do have a network of subcontractors to help with the renovations. I can do 90% of it myself. I am wondering what to include when asking for a loan from a hard money lender or private lender. Currently I have: Introduction letter, location of the house, approximate price for the rehab, and a couple recently sold comps in the area which give me a relative ARV. Is there anything else I need to include when presenting this to lenders?

Thanks!

[Robin Simon]

Quote from @Adam Nesheim:

Hello BP!

I work as a residential construction foreman in Billings, MT. I have an opportunity to buy a small house (500sf) on a large duplex lot (7000sf). My wife and I cannot afford the purchase price and rehab together so we are looking for hard money lenders or private money lenders. This would be our first house to do a fix and flip or BRRRR. We don't have much experience but I do have a network of subcontractors to help with the renovations. I can do 90% of it myself. I am wondering what to include when asking for a loan from a hard money lender or private lender. Currently I have: Introduction letter, location of the house, approximate price for the rehab, and a couple recently sold comps in the area which give me a relative ARV. Is there anything else I need to include when presenting this to lenders?

Thanks!

I think you are on the right track for sure, but to be totally honest, I would just schedule a call and talk through the deal with a HML Account Executive and they will tell you whats best to provide!