I'm not going to say any of the above comments are wrong, or that the experiences of the folks posting are invalid, but if you want that super top notch terms/fees/rates hard money loan, then your DEAL needs to also be super top notch, even to a vanilla randomly selected appraiser following USPAP.I've had many clients "graduate" from what I offer as a conventional lender into the fix-n-flip world that I do not really participate in, and the ones that got slamming deals back when they were working with me tend to have mostly (but not entirely) positive things to say about Lima One.So I guess the lesson learned is that if you absolutely 100% have a slamming deal, take Lima One's offer of a single digit rate and less than 2 points, and go forward with the application.

And I do believe the dollars days are numbered as the one reserve currency in the world.  

As for collecting rents...folks on here talk a lot about a few different free services - we insist on digital payments/ach/bank transfers and charge $25 if they want to pay by check.

I was delayed with COVID to start construction on the ADU, the City of Los Angeles Building and Safety Department has no system to issue and review permits digitally until at least 6 months after the pandemic hit.I live in the front house.

In instances where the borrower fails the house is typically trashed.If they continue to pay your yield is single digits.

I earn a double digit return and sleep at night. 

So you think interest rates will climb to double digit figures soon?

,etc.There is a real reason you are selling and the buyer will dig it out.Specialty asset trades such as your carry more risk which increases the CAP and lending standards.I think the evaluation doesn't sound that far off to me.Try to look for a retiree with 401k money etc. to dump into a business putting half down and then cash you out a few years down the road when lending gets easier.

If you need their contact post again here and I'll dig it out for you.

@Sami Gren If you're looking for a general answer on Northern NJ then I'd say Newark as the cost of acquisition is relatively low (even thought its increasing steadily) and the taxes are some of the lowest in the state.To answer your question about returns, you'll have to reset your expectations about returns, if you're looking for double digit returns in Northern NJ they are few and far between, your best bet is to use cash and purchase at the auction but the auction are no easy task either as competition is fierce.