HML pre qualification Question

[Lee S.]

I'm starting a direct mail campaign in the next week or so and I want to have as many options as  possible to close deals.  First goal will be creative financing (sub to, owner financing, lease option etc) but I also want to have an option to purchase for "cash".

I'll be looking to buy at a max of 70% "as is" value.  I'll have somewhere between 100-125k available personally and a max purchase price would be somewhere in the 150k range.  My wife and I have good credit with high income well into 6 figures but I'm just getting going in RE investing.

I would prefer to contact some hard money lenders in advance and give them this scenario and get "pre qualified" for these types of deals but I'm not sure if HML lenders work this way or not? I'm thinking that getting setup in advance will make the process easier once I bring a deal to the lender and also give me confidence that I can close this way.

Any advice would be appreciated, thanks.

[Account Closed]

You want to prequalify your hard lenders What are their rates, points, fees, etc. Are they a registered MLO lender with a good track record and references.Red flag watch out for hefty fees upfront and make sure they have a presence in your area