Securing Hard money 💰

[Noah McPherson]

Hey guys,

I'm a buy and hold investor from Duluth Minnesota. In four days, I'll be closing on my first rental property, and I'm planning to close on my second deal next June. For my second, I'd like to start building a relationship with a hard money lender. Does anyone have tips on securing hard money? I know organization is important when approaching lenders, so I'd most likely make an analysis to show the lender. However, it'd be really nice to secure financing before I found the deal. Any tips on that? Maybe a sample analysis? Any advice would be greatly appreciated.

[Jon K.]

Just network. Ask some local investors for some local HML recommendations and then just reach out to ask them what they need from you. Don't be surprised if they ask you for your personal financial information (credit report, employment verification, recent paystubs and bank statements). Solid personal financials will help secure such financing before you have a proven track record.