Hard Money: "Proof of Skin in the Game"

3 Replies

Hey y'all. I'm working on a deal and have owner financing in the 2nd position for 1/3 purchase. I need money for the other 2/3 of the purchase and for rehab. Hard money lenders want skin in the game and proof of it. I don't have the skin in the game that they're looking for. I'm trying to do this with little to no money out of my pocket.

Any suggestions?

The only way I know to do this is either know the hml or buy at such a discount the lender can’t lose. I’ve done it before with a property years ago by cold calling every hml in NYC and being told no more times than you can count. However, I purchased the building for less than half it’s appraised value.