Starting your real estate journey and need a loan? Here’s what Hard Money Lenders typically require:
1) Credit Score: Generally, a minimum score of 600 is needed. 2) Down Payment: Be ready to put down 20-30% of the property’s value. 3) Property Details: Submit the property's appraisal, inspection report, Broker’s Price Opinion (BPO), a detailed scope of work, and any relevant permits. 4) Experience: Highlight any past real estate investments. 5) Exit Strategy: Explain how you plan to repay the loan, such as selling the property after renovation, refinancing with a conventional loan, or using rental income.
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By: Marco Chaidez Title: New to real estate investing and need a loan? Read the description on what Hard Money Lenders need! Sourced From: www.youtube.com/watch?v=uGA9v2sVq2E
