Hard Money in OKC Question

[Thomas Pae]

Hi All,

I've been looking into BRRRR properties within the OKC/MWC areas. Just got off a call with a local lender and he informed that if I were to get a hard money loan, I would need to create an entity in order for hard money lenders to even work with me due to various bureaucratic reasons. Does anyone know if this is true? Seems like an important detail that doesn't seem to get discussed often. Thanks in advance!

[Daniel Mendez]

@Thomas Pae

Thomas, yes that’s true.

I'm trying to invest in Ohio right now and all the hard money lenders that i called would only do business with an LLC.

[Odie Ayaga]

Yes there are different regulations that apply to entities and homeowners. If you're looking for hard money get an entity set up