Hard Money Q&A
What is a hard money loan?
Is hard money considered cash?
Should you Pay Cash for an investment property?
How do you get pre-approved for a hard money loan?
Can you refinance a hard money loan?
What are construction Escrows and why private lenders use them?
What is the Average Interest Rate on a hard money loan?
How Fact Can I close on a Hard Money Loan?
How Do I Choose a hard money lender that is right for me?
2. Have some savings.
3. Choose a hard money lender that is direct
4. Select a private lender who is local
5. To find a private lender with a good reputation, look for reviews and referrals
6. Know the right questions to ask
7. Don’t chase the lowest rate
8. Look out for the red flags
9. Make sure you are free to select your own vendors
10. Your lender’s follow-up is an indicator of its future performance
11. Trust your gut
For more details, read here.