HARD MONEY LOANS (ATL GA)....Help!

[Anthony Crawford]

OK...I have been DREAMING about flipping a property for years now and I am ready to make it a reality.  I know traditional bank loan isn't an option for me at the time so I am researching HARD MONEY LOANS.  I am a bit apprehensive because A. This will be my 1st flip  B. I feel like a hard money loan is closely related to borrowing money from the mob lol (Sopranos fan here).

Anyone on here w/ any real hard money loan experience (borrower or lender)???  I would love to get some first hand advice.  Thank you so much.

[Rivers Plowden]

Why wouldn't a traditional loan not be an option?  Have you called around to any small local banks to see what in-house products they have?  Many of the HMLs have some stringent requirements themselves, but it's as easy as going to their site and seeing what their terms are.  Many times if you email them, they will call you back very soon thereafter.  

Hard money is a great resource if you plan for it properly.  Plan for the costs associated ahead of time and make sure you have an exit strategy should a property not sell by the time the balloon payment is due.

Hope this helps.