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An in-depth look at hard money loans from the leading real estate investing mentor and investor, Phil Pustejovsky, who began his career obtaining hard money loans and now is a hard money lender.
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Hard money loans are a good fit for wealthy investors who need to get funding for an investment property quickly, without any of the red tape that goes along with bank financing. When evaluating.
Most hard money lender’s interest rates are 12, to 14, or even 16%. This is very expensive so the goal is to fix up your property, get out of your hard money loan, and qualify for a more traditional conventional loan. After the repairs and stabilization of your property you will be able to get a loan from a conventional lender.