What type of hard money terms could I expect...

[Colin Brazell]

If I were to borrow about 30k for a 45k SFH that I plan to BRRRR in Detroit. I have excellent credit, with plenty in the bank to cover it were something to go wrong.

A friend of a friend said he wanted 2 pts and 12%. That seemed pretty steep to me. I'm a first time investor though, so I can understand a slight premium to standard rates for more experienced investors.

Thanks!

[David Quan]

I sat with a HML recently and where I'm at, it's 10% interest with 2% points paid at closing. On $100,000 it's $875 per month interest only payments and the points equal to $31 per day. No credit check.

Hope that helps!