Hard money loans? Do I have to pay a down payment ?

[Gibran Saliba]

Do I have to pay a down payment for a hard money or private money loan? Thanks

[Mike Zins]

@Gibran Saliba - yes, as Stephanie mentioned, you will typically need 20% down (sometimes this can vary). If coming up with the down payment is an issue, you could find a joint venture partner - someone who has the cash and is willing to partner with you on the project. You could see if they could provide the funds for the down payment, you do the ground work, and split the profits at the end. If you are able to do this a couple times successfully, then hopefully you will have enough cash for your own down payment and don't have to split the profits with anyone :)