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Updated almost 6 years ago on . Most recent reply
![Courtney Kimbrough's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1211630/1621510257-avatar-kimbroughrehi.jpg?twic=v1/output=image/cover=128x128&v=2)
Do Hard Money 100% Funding???
Hello everyone. I am new to the world of real estate, so of course I am used the tool for all ,Google. I came across www.dohardmoney.com. They claim to fund 100% of your deal up to 70% of the ARV. They ask for a 3,000 down payment and the will give you access to 250k of funds as long as they meet their criteria. And will give you back all the money after your first successful flip besides a $650 origination fee. Has anyone else dealt with them before? I just want to make sure that this too good to be true opportunity isn't just that.
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![Russell Gronsky's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/487639/1621478896-avatar-russellg2.jpg?twic=v1/output=image/crop=1193x1193@0x0/cover=128x128&v=2)
@Courtney Kimbrough, I am not entirely sure what you're saying.
You said they will fund 100% of the deal but up to 70% LTV of ARV. I'm confused by this. Will they fund 100% or 70% LTV of ARV? Then you said they will give you access to 250k of funds but how does that combine with the 70% LTV of ARV or the 100%? Also, the $3,000 down part sound sweird. You pay a down payment to the seller, the lender charges you an origination fee but you normally don't give a down payment to a lender. Finally, HML's charge points, in addition to the interest rate. Once you establish a relationship and a track record, they might lower or eliminate the points but normally, you pay points as a newbie.
After looking at the site, this looks like a system you buy into. this doesn't look like a HML, it looks like a guru site. "Become a member of our system. We have specialists who will help you find and analyze deals, project managers to keep you on schedule....blah, blah, blah..." If you read closely, you'll see where it says "no down payment and no points FOR OUR MEMBERS".
Maybe this interest you, to find a whole system but this would be a hard pass for me.
Here is another thread on them: