What is your Experience with hard money/ private finance

[Jose G Delvalle Bueno]

I have noticed that working with private lending companies there is a lot of red tape/requirements that dont really let you present your offer as a cash offer or require 3-4 weeks to close, which is not feasible in order to make a strong offer. Is this the case for everyone working with private lenders

[Shere Clark]

@Jose G Delvalle Bueno Even with title search, the appraisal and underwriting including attorney review, a good HML should take no longer than 1 week if they're constantly working on your file(and they should be right?). Proof of Funds can be tricky if you don't already have a deal when you're applying for a pre approval. The hard money lender is basing your pre approval/Proof of Funds on credit and liquid assets and attaches to you, not the property or properties. Proof of Funds is solely proof of funds. When you submit your deal, it goes under review. They are typically looking at the scope of work and are looking at the property, as is, to make sure that it's not bad investment for you. A good HML wants to do all that they can to avoid foreclosure. It's not a fun process. Plus, we want to see you succeed so that you'll keep using us!