I organize hard money so that you have a good idea if you can use that kind of money long before you make contact with a lender in your area. Our format assures you that most of the questions you should ask a hard money lender are asked for you up front.

The site is broken up into states. Each state has its own broker who is willing to work with you one on one to find the exact hard money loan you may be looking for. The brokers we recommend contacting often have more contacts from smaller, more 'mom and pop' style lending operations. Be sure to use them, even if you think you found what you came for. A good local hard money contact is worth more than a national lender house that may not give you the personal service you deserve.

Once you pick the state the deal is in, our work at hard money in dot com begins. Each hard money lender has its own set of policies. some are completely unique to the lender, while others are fairly commonplace. Up front fees are the most important thing we look at. Generally speaking, it is unwise to proceed with a lender that asks for fees on the front end. The exceptions to this rule are lenders that have an excellent online reputation, and are willing to refund the money if they cant fund the deal. If you pay up front fees for a loan, make sure it is to a lender that has been in business a long time as well.

LTV is a term used to value hard money in. It is generally 25%-80%, with the most common figures for single family homes in the 50%-65% range. 'Skin in the game' is a term reserved for down payment. Ever since the crash of 2008, most hard money lenders have begun to require this. A lender that does not require skin in the game will expect there to be quite a lot of equity in the property. Interest rates vary, but I have seen a range between eight and twenty percent. We interview each hard money lender to make sure they are doing the business they are advertising, and we have a community designed to vet the good from the less than good lenders.

finally, at hard money in dot com we also interview our borrowers. borrowers are encouraged to post the deals they are working on. This can be easier if you are not willing to fill out countless forms and answer a million questions about your deal. just post the deal, and we will inform the lenders that you have a deal that is posted. The more you can tell us about what you have under contract, the higher the chances are that we can help you get it funded.

Remember we like to do deals ourselves, so if you can't find the funding you are looking for onsite, be sure to post your deal so we can look it over as a joint venture candidate.

elliott kelly