Hard Money Lender Questions.

[Shaun M Skeffington]

Hi Everyone... I am looking at using a Hard Money Lender. What kind of questions should be asked to make sure I am using the right one? Thanks for your imputs!

[Marcos Torres]

Hey Shaun. I'm no pro by any means, however the questions I've been asking are:

-Whether they offer credit based loans, asset based loans or both.

-How much are their origination fees.

-Timeline for repayment. Also how much of that time is for construction (I do flips)

-Interest rates and if variable, what are those rates and how I can get them lower.

-Total payout. Of course this varies but if you already have a deal they may do the math on your contract for you.

These are my questions. I'd like to hear what you or anyone else asks. I'm still learning.