Meeting with Hard Money lender (Questions to ask)

[Kelvin McNeil Jr]

Hi BP,

I currently have a meeting scheduled with a Hard Money Lender that specializes in fix & flips. I have a list of their required items but what are some questions I should be asking them to ensure they are the right fit for me?

New investor, I currently don’t have a deal under contract yet.

[Tony Sas]

Kevin,  

Some questions to ask are what are the interest rates, LTV, will they fund 100% rehab. points, length of loan, are there prepayment penalties, is it interest only, are points paid upfront, what are other fees, how long does it take to process, what is the rehab draw process to name a few.