Don’t forget my Memorial day sale going on now at KrisHaskins.com, all training and docs under $100. What is a hard money lender looking for when they consider loaning you money to flip your next house? Well, today I actually went to a house with Mike Krumbien, a hard money lender in Virginia. He’s going to tell us exactly what he looks for when he looks at houses and borrowers to loan money to. A hard money lender loans money based on the value of the asset and not necessarily on the ability of the borrower to pay the loan back. This is why they’re called “hard money” because they don’t really weigh credit as much as a conventional lenders does. Mike’s going to teach us how to find a good CONtractor so your reno with go smooth and actually come to completion. He’s also going to show us some features of this house that could increase or decrease the value based on his lending guidelines. If you’re a newbie, I strongly encourage using hard money because they’ll be your 2nd eyes opinion on the value, construction costs, and your purchase price of the deal. They’ll also make sure you get into a house that will make you money, and not just to break even.
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By: kris haskins Title: What a hard money lender looks for when loaning YOU money for your next FLIP! Sourced From: www.youtube.com/watch?v=0C1ycwoE9aA
