What are the typical terms for a hard money lender?
I've been thinking of possibly finding a hard money lender to do a fix and flip, but I don't want to get ripped off. What are normal terms of a hard money loan?
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In our area they typically find different ways of getting to 10% for 6 months. Some do 18% and 1 point and other do 4 points and 12% but most all lead back to 10% for 6 months. Also term lengths are different so keep that in mind as well.