Investors and their lenders work as a team and if you do not get to know your private money lender or hard money broker well, things may not go the way you planned them to. Different private money lenders and hard money brokers work in different ways and you need to be sure you’re working with someone with terms and fees that will make sense with your deals.
Watch this video to learn the 10 most important questions you should be asking your private money lender or hard money broker before you get anything locked in!
Key Talking Points of the Episode
[00:00] Introduction [01:04] Why do you need to ask your private money lender questions too? [01:54] Do they have real estate investing experience? [03:00] How do they handle their rehab draws? [04:14] What are their terms? [05:45] What type of projects will they fund? [06:35] What are their fees? [07:14] Are they a private money lender or a hard money lender broker? [07:52] Do they charge a minimum amount of interest or a penalty if you pay off early? [08:20] What length of loan do they like to do? [08:40] What do they look for in your credit score or financial documents? [09:10] Do they have a title company or attorney they prefer to use?
Links
Website: Lazy Girl REI
Instagram: April Crossley
Facebook Group: Lazy Girl REI
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