Tips for winning over HARD MONEY lenders.....
I have never used HM lenders or even private lenders. But In an effort to expand and take on more volume I have come to realize it is my only option for being able to hold more than 1 property at a time. Does anyone have any tips to get these guys to lend to you? I dont intend on walking up to these people and shouting "lend me money" , I do have the funds to service several high interest balloon type mortgages at one time, but I want to be prepared to answer whatever questions they may have before they decide to lend. For the record, I have only done 1 flip that went extremely well. I have a background in construction management and I have worked with contractors for 15 years. I plan on using a couple listing agents I know to sell the properties upon completion. I am very good at presenting comps with ARV and cost of repairs plus contingencies.