Hard Money Lender- how to find one

[Account Closed]

How can I find a hard money lender?

What are some ways people go about finding one?

Also, is becoming an independent mortgage broker a good idea in this economy?

[Ann Bellamy]

Normally I'd agree with @Jonathan Greene about going to meetups.  Don't do that now!  Meetups do not equate to stay at home or social distancing.    Work the phones and email to contact the HMLs listed here on BP.  Google hard money and the state where your deal is, and call or email them.

Bear in mind that that many HMLs have stopped funding new deals at all, particularly those funded with hedge fund money.  Rates will go way up for beginners, if they will fund your deal at all.  

So when you speak to them, ask if they lend in your state, if they are originating new loans, and if they are lending to new borrowers, both new to them and new to investing.  Bear in mind that whatever you've heard about rates and terms in the past is likely to change now.