How do I become a Hard Money Lender?

Question

What can expect to get started and what % rate charge?

Carolyn Francis · Answer

Hey David,

Saw your post and wanted to see if you were still interested in real estate? I would love to share more about what I am doing and the scope of projects that I have completed. All the best, Carolyn Francis

David Luhman · Answer

I am looking at California, I am looking at lending between 500-800k.

John Thedford · Answer

CA has licensing requirement with a few exceptions but I understand there is also a threshold. Check your state laws for requirements. As far as become a HML, pretty simple as long as you follow a few simple guidelines and keep your LTV within a safe range. That is no guarantee of not having problems but will help minimize them. You will get some defaults no matter how well you try.

John Mathewson · Answer

@David Luhman Sounds like a big undertaking we have worked with several HML in the area and may be able to answer some simple questions. Would love to connect either way. What rate to charge all depends on the level of investors you want to lend to. The higher the rate the riskier the investment/investor typically.

How do I become a Hard Money Lender?

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