All Forum Posts by: Jan Iglesias

Most hard money works like this 

• Rates: 9% to 13% (Most Deals are 11-12%)
• Terms: up to 36 Months (Most Deals are 6-12 months)
• Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
• Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
• Max Loan: 65%-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Hey Jan ! Please reach out with any questions regarding bridge, fix and flip, ground up construction or DSCR loans . I am always available . What type of potential scenarios are you looking at ?

New to flipping will mean 12-14 percent and 2-3 points right now from private/hard money lenders if you have no experience. There are some reputable hard money lenders and a lot of disreputable ones, but you are going to need to layout your plan and resources. You will need 20 percent down minimum. I would go to local meetups and meet other local flippers and see who they source money from.