Hard money, or private lending, means lending capital to real estate investors, secured by the property itself, rather than buying property directly.
Log in to followTwo lenders I've been talking to underwrite the same flip completely differently and I can't decide which one I'd rather be. The first caps every loan at 70 percent of after repai…
Borrower needs $180k on a house he's under contract for at $205k, and he wants to close in eleven days. A full appraisal in this market is running him a couple of weeks and severa…
A borrower I have known for a while asked me to look at a 40 acre parcel on the edge of a growing exurb, split zoned, no utilities to the line, and he wants a 12 month loan to car…
Numbers first, then tell me what's wrong with them. Note A: 11 percent, 2 points, 6 month term. Note B: 12.5 percent, 1 point, 12 month term. Both $150k, interest only, paid month…
Two brokers in the last month have come back to me with the same message, which is that my quote is no longer competitive. I have been holding at 11.5% and 2 points with a 70% cap…
$228k out at 11 percent and 2 points on a full gut in a decent inner ring suburb. Interest has come in on time every month, which is the part making this hard. Borrower has burned…
I have been calling servicers for a few weeks trying to understand what the service layer around private lending actually is, since that side of the business is where I keep landi…