What are some requirements I need to get a Hard Money Loan for my first Fix&Flip?

[Arshiya Taami]

my friend and I are looking to do our first fix and flip as partners using a hard money lender, we have never done a fix and flip before but we have experience/connections with remodeling houses/construction.

[Ko Kashiwagi]

Hi Arshiya,

Typically a Hard Money Lender will look at your:

• Down Payment (assets/liquidity to put into down payment) - 20-30% for first time investors
• Property value and After Repair Value
• Rehab Plan and Timeline - detailed rehab plan with realistic timeline and budget
• Experience - not necessary but helps
• Financial Strength - credit score, track records
• Exit Strategy - how you plan to pay the loan off