Hard Money Lenders Due Diligence

[Ryan Van Fleet]

So I bought a Buy and Hold that I am in the process of getting stabilized. My next step is build up some capital to do a Flip. So I'm starting the due diligence process of finding HMLs, contractors, and whole salers. I was wondering if anyone had a list of questions that I should be asking to find "interview" HMLs. 

[John Thedford]

Make sure the HML doesn't want advance fees with the exception of an appraisal. You need to find out the loan terms: length of loan, interest, any fees or points, prepayment penalty, etc. Pretty simple stuff. A reference is never a bad idea as well. That last thing you want is someone making a promise they don't intend to keep.