Updated about 6 years ago on . Most recent reply
Where can I find Hard money lenders?
I want to start flipping single family homes but I’m not sure of what all I need in order to get approved for a loan . Any feedback will be helpful! Thank you BP!
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
just be aware that HML / private money lenders are infested with fake lenders.
so some red flags to look our for.
1. bad English
2. rates too good to be true for a beginner any rate under 10% is going to be a red flag.
3. approve you too fast and with minimal data
4. wanting you to send 500 to 1500 up front to pay to draw docs or some other BS fee.
5. buying default insurance.. this does not exist in the HML or private money lending world its a total scam
in your area Lima one Lending Home Lending ONe are all semi national lenders that are for real.
- Jay Hinrichs
- Podcast Guest on Show #222
