Choosing An Actual HML?!

[Shannon K.]

How does one finally decide on a hard money lender? I posted earlier in the intro section about this when I made my first post, but perhaps it was the wrong section for my intro/inquiry:

I've been researching HML for months! I keep adding more and more to my list and never selecting one! I'd like to begin contacting some to secure financing/pre-approval letter for this potential property and I have a 10-page .pdf proposal ready to go for this property containing the financials/our experience/comps/pics all detailed for the HML.

Anyone have a good experience/non-scam/reasonable HML they'd be willing to share/discuss?! I have a property we're viewing again Sunday and feel it might be our first flip. I need to narrow it down and choose a lender! Any help is appreciated…

Extra details:

Current small biz owner, MBA in Finance & Marketing, $15,000 my own cash to put into the deal, good credit score, student loan debt only, and a partner that repairs/renovates properties daily at his job. 100% of our time will be devoted to this project. I have transitioned myself out of my business's daily ops, he is making this impending flip his full time obligation the minute I secure the HML. (I've socked away enough money for us both to live on while we complete our first flip full-time).

[Joe Bertolino]

Meet a few that are local and shop a deal to them. Go through the entire process with them. I don't know if I have had back luck or if that is just how HML loans are... but the deals seems to change in underwriting. They start out saying they will loan 75% of the purchase and 75% of the rehab at 2 points and 9%... by the time you are ready to close they will fund 70% of the purchase and 66.8% of the rehab at 2.5 points and 10.25%. Then all of the sudden when you have other options they can do a little better. I have now delt with a handful of supposedly reputable HML's and not one single deal has matched what we initially talked about.