All Forum Posts by: Ori Rauch

Thank you all for your answers it helped me to start getting the idea.

I'm looking to learn more about hard money, especially the reasons people are using HML, the risk for the lender, default percentage, etc.

If any lender is willing to have a chat with me please let me know. I'd love to get the opportunity to get some more information from an experienced lender.

Thanks for the answers guys.

I see why the time issue (in regular banks) can be a deal breaker but what about those commercial banks or portfolio lenders, why don't more people use them if the process is faster?

I would love to get some insights from hard money lenders.

Dear BPs,

I was hoping to get some insights from HM lenders or from people who work with them frequently.

I'm struggling to understand why someone would agree to pay 12+% for loans where you can get mortgage at ~4% or other loans at much less than the rates of HM.

Why don't house flippers who's doing that for quite some time now (lets say did at least 5 rehabs and can present successful track record) go to the bank to get line of credit for financing deals and rehabs in return to first lien mortgage?

We are looking at a significant difference in the cost of financing the deals, 12% vs. 5% on a 300K for example is more than 20K difference a year, not to mention upfront points and other fees.. 

So what am I missing out? 

Every thought is appreciated.

Thank you all :)

@Andrew R.

@Andrew R.@Charles Worth

@Charles Worth @Matthew Weiser

 @Larry Fried

 @John Moore

Hi All,

My name is Ori, I live in NYC.

I've been reading the forums and the blogs for quite some time now as well as listening to the podcast.

I must say that this site is absolutely amazing it has s-o much information and knowledge on it and it's a heaven for people who like to learn about real estate and I'm grateful to find this place.

I'm a lawyer, I used to deal with real estate in the past but at my current job I'm a contract manager, most of them are for services and supply of goods.

So with the knowledge I have with contracts and the legal side of this business I now want to make the move and start investing. I would like to start with house flipping around nyc and move on to larger and more complex projects. 

I'm looking forward to connect with people who's already doing that in this area and willing to share from their experience or even looking to work with a partner on some projects.

Enjoy the rest of the weekend folks, we New Yorkers finally got some sun :)