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Updated over 6 years ago, 03/10/2018

User Stats

272
Posts
76
Votes
Manuel Angeles
  • Real Estate Broker
  • Los Angeles, CA
76
Votes |
272
Posts

Does Being a G.C. count as Experience for Hard Money Loans ?

Manuel Angeles
  • Real Estate Broker
  • Los Angeles, CA
Posted

This is a question to all of the hard money lenders :

If a Borrowers comes to you seeking a loan for a fix and flip,

and requesting high leverage (85% purchase, 100% rehab),

obviously you would need to vet Borrower's Experience.

What if the Borrower's Experience was being a General Contractor on their Past projects ?

If the Borrower wasn't on Title, or wasn't member of the Entities on Title,

Do You Approve the loan ?

How do you feel about Potential Borrowers coming to you with deals, 
But their Experience is only from being a General Contractor ?

Or their Experience was from 2005-2006 before the market crash ?

What is the best response to that ?

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