Hard Money Lending for beginners
Has anyone had experience with hard money lending?
I have a 2 family unit that I pretty much own out right. It needs about $25K in repairs to make the property presentable/livable. I've tried the traditional loan, but my credit is not what it needs to be.
I'm currently working on my credit situation but did not want to pass on this opportunity. I have 2 renters willing to write "Promise to Lease" letters for both units.
Any insights or advice on the subject?
Thanks,
Regi J