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Updated almost 2 years ago on . Most recent reply

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Engaging hard money lenders - order of operations

Posted

Hello, Bigger Pocketers

I'm ironing out some of the remaining logistics before I start submitting offers to acquire my first property. I'm trying to understand some things about hard money lenders, as I plan to begin with the brrrr method first.

- When do I engage a hard money lender? Right after I submit an offer? Before submitting an offer?

- What kind of materials do you provide the lender to help assure lending? Property pics, an estimate of repairs, comps? Anything else to paint the proper picture?

- Is it a good idea to get GC recommendations from hard money lenders who have a lot of experience in an area?

Thanks in advance for taking a moment to answer!

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Eliott Elias
  • Investor
  • Austin, TX
5,552
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Eliott Elias
  • Investor
  • Austin, TX
Replied

Do not make offers without having a plan for financing. You will provide a credit score, bank statements, and net worth statement. Vet as many GC's as you can, the best are from referrals. 

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