Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

Account Closed
  • Project Management
  • League City, TX
44
Votes |
99
Posts

Hard Money Lending Process?

Account Closed
  • Project Management
  • League City, TX
Posted

After some research, it appears that hard-money loans are a good fit for my fix and flip goals and strategy. Here are few questions for anyone willing to help:

  • What terms and conditions should I expect for my first hard money?
  • What are the best practices for requesting a hard money loan?
  • Is it possible to pre-approve so I can bid with confidence?
  • What are generally considered deal-breakers for the lender? 
  • What are generally considered deal-breakers for the borrower?

Some basis info:

  • Currently searching SFHs from HUD, County Courthouse properties, buyers lists, MLS, other off-market opportunities in my local region (SE Houston/Galveston)
  • Fair credit, above average income
  • 1 rehab under my belt closing in a couple of weeks with better than expected results. (I.E. price offered above asking, inspection resulted in minor issues only, lender appraisal met offer price, etc.) 

Loading replies...