Hard Money Lenders

[Kris Spevak]

Morning Everyone! Quick question regarding lending. I noticed that many of the hard money lenders out there seem to only lend to businesses (LLC, Corp..etc) versus individuals. In your experience do lenders require that these businesses be seasoned? Could I open up an LLC and look to start using hard money lenders right away? Just looking for ways to get that snowball rolling down the hill! Thanks Everyone for your time! Kris

[Anthony Susco]

@Sandra Reed in terms of up-front money for an application, it should only be a fee for the appraisal and credit report.  There are some lenders out there requiring large upfront fees before approving a loan - I would stay clear of those lenders.  If you are referring to up-front money for the deal itself, that will vary greatly depending on the deal itself and the lender.