The world of hard money loan lenders is different than traditional bank lending. But not too much different. With a little reading and due diligence, you will be able to find the hard money loan that is tailored to your needs and connect with lenders interested in your transaction.
Here are some tips for getting started to find a hard money loan:
Browse the Private Money Lending Guide Site
We created this site to help you find specific lenders for your specific needs. The term private money and hard money are used interchangeably throughout the site. Finding hard money lenders are difficult to come by but this site will help you find the right one for your specific needs. Before you contact any lenders, browse through the various articles on this site. Be sure to look at the related articles section within each article which will guide you to additional information on a topic which may be of interest to you. Once you do, you will be ready to find a hard money lenders to suit your needs.
Use the Directories to locate Private Investors
After you’ve browsed the site to get a general idea of the information available, use the directory service to find hard money lenders to contact. You can search for a lender by location, by loan type, or by a keyword (e.g. construction loan, bridge loan, rehab loan or land loan).
Contact Hard Money Money Lenders
Contact one or more of the specialized hard money lenders in our lists and present your hard money loan scenario. When you make contact ,you will often be speaking with the principal owner or manager of the firm who will be very knowledgeable and helpful about what is and is not possible with regards to your hard money loan.
Select from one of the Hard Money Lenders
Interview one or more lenders and find someone with whom you feel comfortable and who is familiar with your type of request. The lender will likely want to meet with you, come to your property location and have you complete a loan application in order to determine if they can assist you. Rehab lenders in particular will want to value the property as it is, in addition to the value as it is repaired.
Read Articles in Detail
Go back through the private money lending guide site as you go through the hard money loan application process. Articles and tips that may not have seemed relevant to you when you were first browsing the site will contain important information which may benefit you in negotiating the best terms and selecting the best hard money scenario.