What are Hard Lenders looking for?

[Ginny Denson]

I'm just debating a few alternatives as hubby& I look to purchase our first investment property. Can anyone share their experience in obtaining loans from Hard Lenders? Do they have general requirements such as Investment experience , assets, etc?  We would love to avoid the banks with all the hoops they make you jump through!

[Nghi Le]

@Andrew Michael

I'm seeing 30-yr fixed long-term hard money products as well.  But in the end, I guess it's just based on how you define "hard money".  Maybe these are better classified as commercial lenders (even though they lend on flips too)?

Some people just don't like to deal with the hassle of banks.  They might have weird guidelines that can disqualify a property.  They're also not asset-based lenders, which means they don't like dealing with people who don't have a W2.  And conventional loans have that 10-property limit.