Finding a trustworthy HML

[Noah McPherson]

What questions do you guys ask to make sure the hard money lender you're talking to is the real deal and someone you want on your team long term? I'm not talking about questions about reserves, credit requirements, and LTV requirements necessarily. What I'm wondering is what questions should I ask them to make sure they're trustworthy and legit? I've been talking to a lot of them on the phone, but since I'm a beginner, I don't have a lot to base my judgement off of. Thanks!

[Michael Dumler]

@Noah McPherson best way to find a trustworthy hml is to acquire a referral from a trustworthy person, as is the case for all vendors. Do you really know if a company can be trustworthy simply by speaking with them? Even if a vendor has performed poorly in the past and cut corners, would they share that information with a prospective client? Reviews are the name of the game and will give you all the information you need. Maybe this is not the answer you're looking for, but best to keep things simple and realistic. Find someone who has worked with the hml you're currently speaking with, and ask that individual how their experience was. Hope this helps!