Hard Money Lending

[Purevkhand Tserendondov]

Hi. I am a new member of biggerpockets.com, and I am trying to do my first rehab. I was wondering if I can get hard money lending even though I don't have any money available in my bank statement. I don't have a good credit score and good income. I really want to start my rehab because I can do many works by myself like painting and changing the carpet etc.,

[Jay Hinrichs]

highly doubtful.... you would need family to take on that risk would be my thought.

HML these days ( unless your very established repeat borrower) will want 20% of total cost in cash at close..

as a HML in the day.. even in the go go days I would not have done a deal like you described.

If you have skills find the money partner.. get expreince build up your track record then you can branch out.