Better Deals! Faster closing! More Deals!

[Davidson Francois]

I'm really considering on taking the HML route because for my short period of time investing the conventional, FHA, and etc seems to be losing to the cash buyers. I feel that if I get a hard money loan I'll be able to get more deals, better deals, and closing on the properties faster. Can someone help me out with the pros and cons of Hard Money Lenders???

[Steve Vaughan]

As a seller I will always pick a conventional loan purchaser over FHA. Lots of rules and seller-paids. There are low down conventional products if OO.

I would be very uncomfortable being one of multiple bidders in a frenzied environment.  The best deals of course are quiet, off-market ones.  Drive for dollars, check FSBOs, re-purpose a completely different asset class like warehouse or industrial.  Zig while others zag.

I've never done HML. Costs are high, deadlines to refi fast. Be careful.