How to use Hard Money Lender to fund my first deal

[AJ Santiago]

Hi guys! Need some advice/pointers as to how I can use HMLs to fund my first deal.

Before I reach out to hard money lenders, I was hoping to gather some info from the BP community!

1. What is the process to getting a hard money loan? Is it much like getting a conventional loan where they check FICO score, income statements, debt to income ratios, etc? Do they also do pre-qualifications?

2. What step should I take first, getting prequalified then looking for a property deal? I’ve heard instances where if you find a good deal, it’s easy to get funding. So does this mean, I can also look for a deal first before even getting prequaled by a hard money lender?

Thank you guys in advance, any comments or critics, I’m all ears!