First time Hard money loan

2 Replies

1) Find a hard money lender that you can trust (asking people you know/trust for a referral, verify the lender's quality by checking online reviews, or references, etc). 

2) Make sure you know what your exit strategy is (how do you plan to pay for the loan... and how do you plan to pay it off?)

3) If possible I would reach out to that lender before you even have a property under contract - find out what their standard process is and what their requirements are. Every lender will be different (some will require 20% down, some will want to review credit, etc). 

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