I need a Lenders opinion

[Rashawn Stevens]

Hey BP, I would LOVE for a Lender to answer this question for me because i'm having problems coming up with a clear answer and here is the question: Should you look for a Hard Money Lender before you have a deal?

[Barry DeGroot]

We are a HML as well and while I agree with the above, that the specific property itself will be underwritten and is collateral based, there are some time sensitive advantages to establishing a relationship prior to locating a property. Most of our borrowers are line of credit borrowers and by establishing the line in advance, we are able to get through the borrower/entity financials, background checks, etc. and clear the borrower for the line, subject only to underwriting the property once it goes under contract. This puts the relationship in place and speeds up the process as many times, investors need to close quickly on a particular property.