difficulties getting hard money loans

[Account Closed]

Hey guys so i recently heard that it is easier for individuals to get hard money loans when they have verifiable income from a job and its kind of tougher to get hard money loans if you are  self employed. Is this true? And why is this the so?

[Andrew Michael]

My guess is they were referring to traditional financing rather then Hard Money.  For traditional financing the answer is yes, you will need to have verifiable income.  

If they were talking about Hard Money then I disagree.  As long as the numbers of the deal make sense and you can bring money to the table you can get a Hard Money Loan.  Hard Money loans are based on the asset itself in conjunction with your credit and working capital position.