They are generally a waste of a lot of my time, effort, and reputation, but the investor has nothing to lose because they don't have any skin in the game and only an LLC name on the contract.

You can find lenders on Scotsman Guide and Private Lender Link:https://www.scotsmanguide.com/Residential/LenderSe...https://privatelenderlink.com/Most lenders usually lend up to 75% LTV on 1st TD... some will go up to 80%, 85% even up to 90%.For the remaining 10% to 25%, Lenders expect you to bring that yourself as your own equity / "skin in the game."

Its funny that i just spoke to someone at do hard money and he said the $3000, $650.00 of that goes to the evaluation of the deal, sending someone out to look at it and the remainder is skin in the game which is refunded after the deal is successfully done.I don't understand how the representatives of DHM who responded above failed to mention that.

If you are aggressive, you may not care about any of this, and it may be considered a plus to you.In my opinion, another of their big weaknesses is that they have virtually no skin in the game.

Once you have skin in the game you will learn super fast.

If you are a newbie, a private lender like myself wants to see some "skin in the game," even if it's your grandma's money or a partner's money.

I guess it all depends on your threshold for pain - if you could really talk to this guy and work things out , then it may be salvagable    - perhaps he just got though dealing with some major life issues and took it out on you - just remember - this guy is living in your property and you have to keep dealing with him on a regular basis - the property management industry can be better defined as a "people management" industry - so it may be good to learn how to deal with these type of situations so that you can get a thick skin  - personally , having dealt with problem tenants and with ideal tenants - I would choose the temporary loss of replacing a bad tenant with a good one any day of the week, cause there is really no way to quantify the piece of mind that comes with having and excellent tenant vs the anxiety of dealing with someone unstable

They need to have skin in the game.

As a new investor / aspiring developer learning the ropes during this excellent time to be buying RE, I can tell you for certain it is FAR cheaper to re-skin a quality property than it is to build it.

I prefer to get slightly more expensive properties that have tenants who have enough skin in the game that I can manage from across the country.