All Forum Posts by: Ruark Adam Barrientos

9 unit multifamily/apartment commercial property. 

Quote from @Diana Marie Grasso:

Do your dilligence. The market is changing. If you get a hard money loan, they each will have requirements so they make their profit. For eg. They can call the loan in 6 months. You need to make sure your strategy and available funds are there if something goes wrong in your project/strategy. I know investors that got stuck with a 2k mtg that are not paying a 4k mtg because the fees from the HML. Not that a HML is bad, they have guidlelines, make sure you understand and read, before you sign, and use a lender within your circle or personal referral. Hope this helps.

 Absolutely great point! I appreciate the example and providing some food for thought. I have been doing some research and ended up stumbling onto the bigger pockets lender tool and have been researching some of the different lenders.

Quote from @Erik Estrada:

Quote from @Ruark Adam Barrientos:

Has anyone had any positive experiences with any Hard Money lenders in the Indianapolis, IN area that they would recommend working with?

Also, any helpful/useful info to know that you could share for someone using a hard money lender for the first time? Any and all info you could share would be highly appreciated. Thanks as always friends! 

 Hey Ruark, 

What terms are you looking for and how fast do you need to close?

To be completely honest, I’m not sure on either. I’m not sure what different products are available and what’s realistic as far timeframes to close with a hard money loan. 
It would be for a commercial property which requires a rehab. 

Quote from @Michael David:

Hey @Ruark Adam Barrientos bumping this so someone can give a recommendation of a hard money lender they've used. If you don't find one you can try the Find a Lender tool as well. What type of loan are you looking for? https://www.biggerpockets.com/...

-Mike 

Thanks I genuinely appreciate the assistance!

Has anyone had any positive experiences with any Hard Money lenders in the Indianapolis, IN area that they would recommend working with?

Also, any helpful/useful info to know that you could share for someone using a hard money lender for the first time? Any and all info you could share would be highly appreciated. Thanks as always friends! 

@Tyler Bobo that makes complete sense! I’m going to do that, especially since I’ve never managed properties besides my own. So i can see the value in reading up on it. Thanks for the sound advice

@Sandy Sawyer oh wow, that’s good to know thanks!

@Brock Mogensen awesome, yes please I would love to connect with them!

@Ryan Wosick yeah that seems to be the general consensus and you’re pretty much confirming what we’ve heard. I sincerely appreciate the insight!

@David Richter Outstanding! Great suggestions. I’m currently in between two real estate books so I will add those to the rotation. Thanks!