What do you look for when choosing a Hard Money Lender?

[Winston Jimenez II]

What are you looking for when shopping around for a hard money loan for BRRRR? Also after you do make all of your repairs what are you looking for in the mortgage company that does the refinance?

[Chris Seveney]

@Winston Jimenez II

One thing to absolutely ask is does the lender have the money available or do they syndicate it?

There is an individual who has been brought up here in BP and accused of doing hard money loans but not having the money to fulfill the loan during the draws because they turn around and essentially sell the note to someone else to fund the deal but if they can’t sell the note the investor could get hosed during rehab due to lack of promised funds