Hard Money Loan Experiences…Share yours Here!!

By
Real Estate Broker/Owner with REVOLV Real Estate Broker MA & RI

I Just Sold another of my personal Deals (Flips) I do 2 to 3 a year. I tried a local hard Money Lender that charges a total of 10% of the loan in this case approximately $14,000.00. First I paid about $4000.00 then $10,000 when the deal closed. It's better than bringing in another partner (typically looks for 30% to 50% of the deal) and this way I didn't touch my cash reserves.

Do you know of a better Lender or method ??? If so I would love to hear about it.

Keeping an open mind pays off in this business.

 

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