Rental Property Investor · Cranston, RI · Member since 2017 · 5 posts · 0 votes
I've got a handful of properties and gave recently been learning about hard money lending and would like to get into it. I'm having trouble finding either A) good resources that outline the process, or B) a mentor who has already walked that path. Any help or guidance would be greatly appreciated!
Rental Property Investor · Houston, TX · Member since 2018 · 44 posts · 31 votes
7y
Use jet lending, they seem very knowledge and will walk you through the process even before you get into it. It’s fairly expensive and only short term lending
Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
7y
@Matthew Celeste Typically hard money is available from an institution that lends money for value add properties as opposed to a traditional lender. If you are an individual looking to lend money, you are more of a private investor or private mortgage. Real estate investors love having private money, but you'll need to establish your lending terms and probably have counsel to represent you and prepare your loan package for the borrower. You'll also want to create a process for how people can apply for a loan through you, what you require, and figure out how your going to review each application and the underlying deal.
Rental Property Investor · Cranston, RI · Member since 2017 · 5 posts · 0 votes
7y
@Bob Floss II Thanks Bob. I think my biggest hurdle is just making sure I'm doing everything properly. From the sounds of it a good lawyer would presumably be able to take care of that end of things.