Hard Money is fine, but it has its red tape, and Hard Money has its own investors they need to keep happy and you are subject to guidelines, rates, processes changing on the fly and working against you.  

Vet hard: ask for a recent tape they sold and buyer references, verify they’re the seller or have a written mandate, avoid anyone asking for upfront broker fees before diligence, and insist on a clean chain of assignments plus collateral file access under NDA.

We just got to $100M+ tapes from two larger lenders in the RTL/DSCR space and they are laying off people left and right as we received several calls from people looking for employment.One lender capped their lending in california to no more than $1M - which in california and non-rural is basically there way of saying we are not doing business here anymore

It’s also much easier to manage properties here compared to the red tape and taxes you get in states like New Jersey.

The secretary of state is so disorganized, and full of red tape and mistakes I couldn't take it anymore.

You will now be on tape. 

Private lenders are a smart move for flips — faster closings, flexible terms, and less red tape than banks.

The smaller the project, or deal like a condo is good to set your sights on (there is red tape) even still..

If you have a total of 10 subs (demo, electrician, plumber, carptenter, tile guys, flooring guy, roofer, landscaper, drywaller, painter, HVAC, mason, asphalt, concrete, tree guy,.. that's 15) and you pay every one 2k more than budget, that's 20k-30k and poof there goes your profit.

Some investors love it for the guaranteed rent and lower vacancy, while others say the inspections, red tape, and tenant management make it not worth the trouble.For those of you who’ve done it — or are doing it now:How’s your cash flow and stability compared to market-rate rentals?