Hard Money Lender With Lenient Standards?

[Jimmy Thomas]

Hi All,

My partner and I are new investors, looking to do our first deal in the first few months of next year and avoid analysis paralysis. We intend on using hard money for this first deal; however will have very little cash in the deal, and do not have any personal property to put up as collateral (as one hard money lender we engaged stated is their criteria for new investors). 

Are we in for long haul finding a lender that will meet our needs? Essentially what we have to show for ourselves is the value in the now your thoughts deal. Please let me know your thoughts. For greater context we are looking into the Detroit market with intentions of using the BRRRR strategy to grow our portfolio.

[Melvin List]

@Jimmy Thomas in my experience Hard Money Loans and having little money to put down do not go hand in hand.  If you find a Hard Money investor that willing to  lend with very little skin in the game I would love to hear about them.