Updated over 7 years ago on . Most recent reply
Hard Money Sources - Which one is the best for the experienced?
I am curious what source of funds everyone is using for deals. Especially for those that have done a few more deals and have exhausted "Friends and Family" money.
Currently, I am considering using:
"Builder Finance"
"Finance of America - Commercial"
"Lending Home"
Most of these sources require that you have verified experience and when you include their points the mixed rate is 8-10% APR as best I can tell. Anyone have experience working with these lenders above or others like them and have feedback?
Besides cost ease of use is another huge factor that I take into consideration when trying to find the best source of funds. I have found it is worth it to pay more in interest so that I can spend the time finding other deals in lieu of chasing down a W-2 from 2 years ago etc.
Further relevant information. I am in AZ and have 5M+- out at any one time on Flips and New Construction.