Aside from having to put 10-20% down to secure the loan, what can I expect to encounter when dealing with hard money lenders in terms of interest rates, points, getting the funds from them to pay contractors/buy supplies, etc.

People tend to believe that the danger that they face in taking action is far worse than what they will likely encounter in reality.

I real outgoing and lively so this wont be an awkward encounter I promise haha.

What i encountered in the entire mid Atlantic and southeast markets, via brokers and loopnet, was a sellers market.

Any work outside the scope of the initial plan is not permitted as the loan amount cannot be increased.If the project encounters cost overruns, those cost overruns will be the responsibility of the borrower to pay.Renovation Term Extension Fee: .50% of the total loan balance.

Mine and my investors discomfort in the deal was irrelevant given that the contract had no financing contingency.Due to the fact that the contract was signed in my name, and not an LLC, I would have to prove that I personally had the funds in cash to purchase the property at the time that I signed the contract.My questions are as follows:Has anyone encountered a similar type scenario?

I've never encountered such low inventory in my life! 

I had a vague idea of wholesalers using transitional funding in circumstances like with a short sale or with HUD but had never personally encountered one. 

., as an investor and landlord I can say without a doubt you will encounter fake references.

Hello everyone, I recently learned that, because my tenants all happen to be students, my insurance company won’t cover the property because they don’t deal in “student housing.”Has anyone ever encountered this?