Buying wholesale deals with hard money

[Casey Pozzanghera]

I know that cash is king in the wholesale world, but do people have any experience using hard money to buy wholesale deals (or have any wholesalers out there sold contracts to non cash buyers)? I am interested in getting on some wholesalers buyers list to expand my lead generation and get a better feel for off market price points, but without enough cash to buy a deal outright in my market, I’m wondering if I’ll just get laughed out of the arena. Thanks for your input!

[Mark Bookhagen]

If you have a committed hard money lender, it is basically the same as cash.

[James Green]

@Casey Pozzanghera, ditto same as cash, but with a few more steps. Just line up your funding NOW & make sure you have cash of your own to bring to closing, whether it 10-25% depending on your lender.

[Brandon Krieg]

Yep.  It's no problem.  I've done deals where the buyer, hard money lender, and I all met up and made it happen.  No big deal.

[Lydia R.]

@Casey Pozzanghera You can absolutely buy deals with hard money, its basically slower cash. You are doing the absolute right thing by signing up for the buyers lists and analyzing the deals that come in. I would suggest that youstart speaking with some hard money lenders in your area so that when you come across a deal you are ready to move on it.

[Casey Pozzanghera]

Thanks all! I have already spoken with several HML that work in my area, and have gone through pre-approval. Next step, find a deal!