Hard money

[Eric L Walker]

Good afternoon Bp!! What are the steps to approaching a hml to qualify for funds? Hope this isn't a dumb question

[Anthony De Castro]

First thing we look for in a borrower Eric other than the asset is experience. I have a lot of clients that just came out of a real estate educational program but quickly realize that it's not that easy to qualify for a HML even if the asset is good.

Typically if a lender will allow a first time investor/flipper funding, they would like to see 40-50% down.  I don't know of any other lenders that would allow a high leverage financing without experience.