Hard Money Recommedations

[Elliot Mitchell]

Hey Everyone!

Looking for good hard money lender recommendations in the Maryland area.

Thanks!

[Jason Taken]

Quote from @Elliot Mitchell:

Quote from @Jason Taken:

Quote from @Elliot Mitchell:

Hey Everyone!

Looking for good hard money lender recommendations in the Maryland area.

Thanks!

youre going to get 1000 responses here. Can you share a little about the project and what you’re looking for in a capital partner?

 Jason,

Projects will be buy and hold BRRRs. Light to moderate rehab. Maybe up to 50K in rehab cost. I have some quotes from lenders for 12% interest and 2 points at closing for a loan up to 70% of ARV. Looking for anything/anyone else that might be able to match or beat these terms.

Thanks!

 That’s pretty typical. How about the closing process? That’s really where you’re going to make your money. There’s something to be said for protecting a lenders capital —- there’s another thing for taking 30 days to close and dragging the borrower through the mud with endless paperwork and underwriting. 

Definitely make sure you’re vetting the processes while also being conscious of pricing.