Hard Money Lending for beginners

[Reginald Johnson]

Has anyone had experience with hard money lending?  

I have a 2 family unit that I pretty much own out right.  It needs about $25K in repairs to make the property presentable/livable. I've tried the traditional loan, but my credit is not what it needs to be.  

I'm currently working on my credit situation but did not want to pass on this opportunity.  I have 2 renters willing to write "Promise to Lease" letters for both units.  

Any insights or advice on the subject?  

Thanks,

Regi J