Financial Numbers in a Hard Money Loan
Hello BP,
What are the financial numbers or considerations for Hard Money Loans?
What would it look like to offer 10% on a hard money loan for rehabing an apartment over 4 months? Do I pay back in payments? How do I calculate that 10%, as I spend it, at the end of the 4 months, at the beginning?
I want to calculate the cost to know exactly how much money to ask for and what to explain to potential new Hard Money lenders who might not know what options there are.