One of the fastest ways to get your loan request ignored by a hard money lender is ...

[Account Closed]

When working with hard money lenders, be sure you are able to quickly summarize your loan request. Don’t go into too much detail or explanation until the lender has decided to move forward in the process with your loan request.

One of the fastest ways to get your loan request ignored by a hard money lender is not being able to quickly summarize the loan scenario.

If a prospective borrower cannot simply summarize the loan request in only a few minutes, chances are I will not consider the deal. If a prospective borrower cannot simply summarize the loan request in only a few minutes, chances are I will not consider the deal. 

Plenty of time to dedicated to loan requests in processing, but many loan requests will never get to the processing stage. Be clear, concise, and efficient.

If you have an Executive Summary it’s best to keep it to one page.

Again, more information will be requested and reviewed once your loan request has made it to the processing stage. The initial submission or inquiry is a quick snapshot to get a lender interested in learning more about your loan request.

I couldn't have said it better myself... 

“Just the facts, ma’am” – Sgt. Joe Friday, from the television series Dragnet

Do you have hard money loan questions or tips? 

[Rob Beland]

So as a novice to hard money lending but an experienced investor I would really not know what I need to present when it comes to applying for a hard money loan. You make it sound like I have three minutes to state my case and once the buzzer goes off I'm off the stage and I'll get a yay or nay. Do you lend that much money and are that busy that there is no room to go over what you want for a deal summary with a borrower and have room for a little back and forth? How many deals do you look at in a day? I would think that considering you are charging in excess of 10% on your money you might spend some time with the borrower to make sure the deal is presented properly and you have everything you need from them and you are both on the same page. (And when I say you in this I don't necessarily mean you but rather all hard money lenders although you did refer to yourself in the first person so I'm guessing you have the attitude I'm picturing.