Hard money and application

[Tevin Swain]

Hello , I have only posted on bigger pockets a few times , but a new resolution I am deciding to ask more questions to get more results from my Real estate investing career. I recently have become more interested in building my portfolio and using a few real estate strategies such as the BRRRR method and I would like to know in general has anyone used a hard money loan to do this kind of transaction? And how did it turn out for them? I am also would like to know what are some of the things I should look out for ?

[David Weintraub]

@Tevin Swain I live in Philadelphia, and there are banks that will work with you on these types of loans. Much of it depends on your experience, credit, background, etc. But even with that said, if there's "meat on the bone", you can use HML to pull this off. Especially if you're just needing acquisition without construction, and speed is the issue. There are bridge loans for that.

If you can get bank financing you get bank financing.  But @Tom S. opening comments are not "hard money", and don't relate to what you're asking.  Maybe what you're seeking, but not asking.  And getting a loan in Burlington from a local bank is likely much easier than getting a loan in Philadelphia.  It's a different game altogether.  Glad it's working for him though.  That's great.

You should attend the Brewerytown meetup which takes place first Wednesday of the month.  Hit up @Odie Ayaga and @Troy Sheets for info.