What to expect from Hard money lenders

[Kent Maclean]

I’m ready to take the plunge and find financial backing for my first flip house. The numbers all work out to be a good first flip. I’m not worried about making a ton of money but rather the lessons learned like the great bearded Brandon always mentions. I’m thinking of using a hard money lender but I’m wondering if anyone can tell me what to expect as this being the first time. I’ve heard crazy numbers of 14% and 12 points for newbies.....

[Jason D.]

@Kent Maclean 14% is realistic, 12 points??? That's ridiculous.

My first HLM was 3 points and 10.5%

My second was 2.5 points and 11%

3 points and 12% is probably an average HML for a new investor