Hey Everyone,

I'm planning on buying my first investment property in the Columbus area and am looking to BRRRR it. I've been searching around for Hard Money lenders that I can get pre-approved by, but thought it would make more sense to post here and get your guys' input. Would love to hear from other investors in the Columbus market who have leveraged Hard Money on some of their deals. If you have had a good experience working with any lenders in the past I'd love to hear from you. Would greatly appreciate any insight you guys could provide!

Any specific reason for going with HML ?? PML might offer better terms with less paper work.

Originally posted by @Charan K. :

Any specific reason for going with HML ?? PML might offer better terms with less paper work.

From talking with more experienced investors than myself I've heard that HML generally have a more complete team (inspector, appraisers, contractor connections, PM connections, etc.) than PMLs working on their own. As a new investor I'd like to leverage the connections of an experienced HML. That being said I'm not at all opposed to working with a PML. For me it's about the numbers, so if they make sense I'd be happy to partner with either an HML or PML. Do you know of any PMLs you'd recommend?

Congrats on getting started! You may want to start with a realtor (as opposed to a HML. Many HML's can lend all over and may not have a presence here. There are a number of active realtors in the Cbus area (browse the other Cbus forums) and they can help you with contacts, areas, etc. In general, a list of PML's wouldn't be posted as you would violate the nature of being a "private" money lender.

I can send over some local recommendations. @Cameron Montgomery

@Brandon Goldsmith Could you send me a list?

@Cameron Montgomery Why hard money?? I can almost guarantee your BRRRR is not going to end like you want it to. There are better ways to do this...

@Brandon Sturgill Thanks for the input! Can you elaborate on what you meant by that? How do you see it ending for him? And what are the better ways to accomplish his BRRRR?

Originally posted by @Cameron Montgomery :

Hey Everyone,

I'm planning on buying my first investment property in the Columbus area and am looking to BRRRR it. I've been searching around for Hard Money lenders that I can get pre-approved by, but thought it would make more sense to post here and get your guys' input. Would love to hear from other investors in the Columbus market who have leveraged Hard Money on some of their deals. If you have had a good experience working with any lenders in the past I'd love to hear from you. Would greatly appreciate any insight you guys could provide!

Hi Cameron, I think there are pros and cons to hard money. The biggest pro is that they're great for getting started with a BRRRR as most will finance the renovation as well as the purchase of the propety. The biggest con in my eyes being the high-interest rates. With that said, I would be happy to send over some recommendations for hard money lenders here in Columbus!

Originally posted by @Cameron Montgomery :

Hey Everyone,

I'm planning on buying my first investment property in the Columbus area and am looking to BRRRR it. I've been searching around for Hard Money lenders that I can get pre-approved by, but thought it would make more sense to post here and get your guys' input. Would love to hear from other investors in the Columbus market who have leveraged Hard Money on some of their deals. If you have had a good experience working with any lenders in the past I'd love to hear from you. Would greatly appreciate any insight you guys could provide!

 I have a list of hard money lenders I can refer to you. In my experience, most people have the wrong idea about hard money and only about 10% of people actually end up using them. They are especially hard for new, out-of-state investors since your renovation budgets are higher.

@Remington Lyman , How do you recommend finding a good GC to work with for out of state investors and keeping renovation cost low? I reached out to a few GCs and they're either too busy to response or their quote are too high.


Originally posted by @Remington Lyman:

 I have a list of hard money lenders I can refer to you. In my experience, most people have the wrong idea about hard money and only about 10% of people actually end up using them. They are especially hard for new, out-of-state investors since your renovation budgets are higher.

Hi Cameron,

Not sure if you've already checked, but BiggerPockets has a 'Network' tab where you can search for HMLs by state. This might not be a bad starting point for some reputable options.

Hope this helps,

Michael