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A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.
There are many mistakes you can make as a first-time hard money lender. The single biggest mistake I almost made that you should avoid is.
The term “hard money lender” may conjure up visions of crooked-nosed guys who’ll cut off your pinkie finger if you flake on making prompt payments. But you can rest assured-these professionals aren’t.
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A hard money lender for real estate is a private money lender that lends money to real estate investors that cannot qualify for traditional financing through a bank. Rather than using deposits, a hard money lender uses capital from many private investors to fund hard money loans for borrowers.
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· There is also a way to use hard money or private money to buy rentals with no money down using a conventional loan refinance. What is a hard money loan? Hard money is a type of financing used to finance properties for a very short-term like 6 months or a year. Hard money-lenders use different terms than a traditional bank.
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Do Hard Money, West Jordan, Utah. 98K likes. Do Hard Money is a hard money lender that provides short term funding to real estate investors.
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Hard Money & Private Money Loans for Real Estate Investments. For Investors With Bad Credit, Self-Employed or Foreclosed Properties. Apply now! 866-500-4500