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Updated almost 6 years ago on . Most recent reply

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Brian Charles
  • l
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Hard money lender alert !!!!

Brian Charles
  • l
Posted

Newbie investor looking for a hard money or private money lender....little too no money down. Looking to do business based on the deal.

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Stephanie P.
#5 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
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Stephanie P.
#5 Mortgage Brokers & Lenders Contributor
  • Washington, DC Mortgage Lender/Broker
Replied
Originally posted by @Brian Charles:

Newbie investor looking for a hard money or private money lender....little too no money down. Looking to do business based on the deal.

Business based on the deal?  Doesn't exist.

Here's what works.

Go to a REIA or a Meet-Up in your area and find an investor with experience and wholesale the deal to them. Then ask to tag along for the experience of seeing what it takes to work this business.

Hard money lenders (in general) will go 75-80% of the purchase pric3e and 100% of the rehab paid out in draws which means you need money to get the return on the back end.

Stephanie 

  • Stephanie P.
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