How do I find a hard lender?

You can find hard money lenders by:

1. Googling “hard money lender” with your city or state name (Example “Hard money lenders in Tampa, FL).
2. Attending your local real estate investment association (REIA).
3. Checking websites specific to investing or general business websites, like LinkedIn.

How much do you have to put down on a hard money loan?

In consideration for a hard money loan, most lenders will review the borrower’s investment history, verify the property values for the asset in question and, under normal circumstances, require a 30% to 40% down payment to secure the loan. Hard money loans can be an excellent way to secure a real estate investment.

How do I find a good hard money lender?

Finding the Right Hard Money Lender

1. Reputation. Check their online reviews and ask around to get feedback from their past clients.
2. Speed. The best hard money lenders don’t have complicated approval processes and won’t make you wait for funds for a long period of time.
3. Flexibility.
4. Loan Rates and Terms.

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Why you should become a hard money lender?

The biggest advantage of becoming a hard money lender is the fact that you will be able to realize higher returns on your invested capital versus a savings account. Typical loans yield between 8% and 12%, often higher. Expanding into paper investments is a great way to boost returns on your real estate business without buying more property.

What types of properties do hard money lenders lend on?

Fix-and-flip properties. Hard money loans are very common with fix-and-flip properties.

Can you sue a hard money lender?

You do have the right to sue a hard money lender if they happen to be in violation of laws against fraud, but you are going to have a high bar to get across in order to win your lawsuit. Most likely, your case will need to be pretty sympathetic to a jury before an attorney would even consider touching it.

How to become a hard money lender or investor?

If you are interested in becoming a hard money lender, here are a few steps you can follow: Name your business and create your company structure. Set up an online presence for your business. Seek legal counseling on the creation of a limited liability company. Investigate potential investment opportunities.