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On this episode of the #AskBP Podcast, Brandon explores the topic of becoming a private money lender, someone who lends capital for real estate deals. He shares the process for getting started, as.
A private money loan is any loan from a non-bank source. A hard money lender is one type of private money lender that uses "hard" assets as collateral for loans. The most commonly used asset for hard money loans is real estate. In order to become a hard money lender, there are four important things to consider: 1.
FREE consultation at (818) 584-2424 with an experienced california hard money lender focusing on investment property hard money loans in CA. LBC Capital located in Los Angeles and offers investment and commercial loans including: fix and flip, bridge loans, land loans and construction loans.
Hard Money Bridge Loan At Lend Some Money, we recognize the importance of speed and that loans must often be structured around each client’s unique financial circumstances. Our bridge loan program meets the needs of borrowers purchasing or holding properties that are being re-positioned or rehabbed, with a clear exit strategy for loan repayment.
Hard money lending is another alternative to traditional lending sources and allows borrowers to use the investment (in many cases a property) as collateral on the loan. While many lending sources rely on a borrowers credit history, hard money lending relies on the asset in question.
How Do Hard Money Lenders Work · Hard money is quite expensive–generally around 5 points (that’s what really hurts) and 12%-16% annuallized.although many hard money loans are for just six months. So, on the property with an ARV of $500,000, a hard money lender might lend you $350,000, and charge you $17,500 in points and $3,500 a month in interest.
Today I’m sharing a guest post by Dyches Boddiford about how to become a private money lender (aka hard money lender) in real estate. This is a real estate investing niche that I plan to do more of myself in the coming years. So, one of my selfish reasons for reaching out to Dyches was to pick his brain for my own knowledge!
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Carolina Hard money specializes in hard money, or rehab loans, as well as transactional funding for real estate investors. Focusing on the Carolinas.
· Pay back the loan. Most hard money loans are designed to be paid back quickly, usually within 12 months. If you do not pay back the loan in time, then the lender might be liable to take your home as collateral. To avoid this, make sure you can easily afford the repayment schedule you stipulate in your loan agreement.
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