Securing a hard money loan is relatively simple – it starts with a potential investment property. Once you have selected a property that you would like to purchase, rehab, and sell for profit, contact a lender and supply them with the following:
The lender will underwrite the property deal, meaning they will confirm the ARV or Monthly Rent using comps, analyze the numbers, and evaluate your unique situation as a borrower. If the deal makes sense they will then provide you with a loan breakdown including your down payment, interest rates, and terms. After construction is complete, you can choose to sell the property or refinance and hold onto it.
