Curious as to the interest rates and points on hard money loans?

[Dedric Polite]

Interested in finding out the going interest rates & points charged for Hard Money Loans (actuals paid within the last 12 months would be great) in the following states, NC, SC, VA, MA, TX, MD, GA, FL, OH, NJ, NY, CA. Need to get a sense for the market. This is for SFH fix and flip deals. Thanks

[Steven Mitchell]

we looked at hard money when we were starting out and had to pass, it was simply waaaaay too much of a haircut to the tune of half the profit.  

What we did was find some wealthy investors who had their money in mutual funds and offered them a straight 15% per year backed by the property deeds.  This gave them a large, safe return and reduced our money costs by half (once you cut out the points and the fees its so much cheaper).