Hardest Money Lending Ever

[Devin Williams]

It seems to be a hard requirement with Hard Money Lenders to form an LLC before they are willing to fund a real estate deal. Also thought there would be less stringent requirements put on borrowers and more focus on the deal. At least this is the communication we've been receiving in webinars, podcasts and all the resources online. Are these normal obstacles for newbies to the industry? Have things changed recently? So far we're 3 for 3 on just building a team for funding a deal. Getting really close to putting in an offer but trying to secure funding first. Also we are being categorized in a "hard to fund" area (Chicago) though we live in NW Indiana. The minimum AS IS and ARV requirements are unrealistically high basically stating our area cannot be funded in this manner.

Open to hearing others experiences and suggestions. Anxious to get started and just found what appears to be an amazing deal!

[Jared Sandler]

@Devin Williams I work for a hard money lender and we don't require and LLC nor are we opposed to working with newbies. I think it just depends who you talk to. In my experience, opposition to working with newbies in some ways is an indication they're not willing to take the time to talk with you and help work you through the process and be a teammate more than just a lender.