Real Estate Deal Going South? Communicate with Your Hard Money Lender

Real estate deals can be very simple or highly complicated, particularly a rehab deal whereby a property is being renovated or remodeled. For those of you who use hard money lenders on your real estate projects, what do you do when your projects run into serious issues and start to go “south?” Do you communicate with your hard money lender about the problems, or do you keep the lender out of the loop? A strong relationship with your hard money lender can sometimes mean the difference between making or breaking your deal. Don’t stick your head in the sand like an ostrich and pretend your problems don’t exist. Hard money lenders have resources and contacts available to them that you may not have. Still not convinced you should keep your hard money lender in the loop? Read about a real estate rehab deal that went “south,” and how the hard money lender was able to save the day: http://privatemoneyutah.com/keep-open-door-policy-hard-money-lender/

Posted by Corey Curwick Dutton