Hard Money Loans - going rates and terms

[Hannah Joy]

Hi there, I recently acquired a hard money loan at 6% for a project, 3 months for construction, 3 months of interest only. I thought that was negotiated well but I'd love to hear from others - What are the going rates/terms? 

Thanks! 

[Tim Herman]

@Hannah Joy did you send an upfront fee to get your money. Are they escrowing funds. This sounds too good to be true. Most start around 10% and higher for first time flippers.