The process of real estate investing is complex and ever-changing. It doesn’t matter if you’ve been doing it for 20 years, or if you’re just getting started.
One of the most important factors will be finding a lender you can trust so you have the funds when you need them to make the profit you want.
Find a lender who specializes in hard money lending, understands real estate investing and the opportunities that exist, and is committed to you and your investing future.
10 Questions to Ask Your Hard Money Lender
- Do you work with a permanent financing partner who specializes in working with investors?
- Are you a real estate investor yourself?
- Do you require a minimum credit score?
- Do I have to have previous experience in house flipping?
- Do you look at contractor bids to ensure everything is in line, including cost accuracy and completeness?
- Do you help generate a detailed After Repair Value (ARV) estimate?
- Do you oversee the repair progression?
- Do you fund 100% of the purchase and rehab budget up to 70% ARV?
- Do you provide a detailed, itemized list of ALL closing costs?
- Is your organization a member of trusted industry associations?
An advantage to working with a hard money lender who is also an investor is the expertise and connections he or she can provide within the real estate market.
Find a hard money lender who is willing to help educate you on the best approaches to take for your rehab projects. The tips and pointers they can provide are invaluable and can be the difference between failure and success. This type of mentorship is something you likely won’t get with a conventional lender.
At Catalyst Funding, our business model is built on taking a holistic approach with our clients and guiding them through the entire process. As a hard money lender, we invest in you. Whether you need guidance in rehab strategies, contractors, property management or wholesale opportunities, we are here to help you succeed. Contact Catalyst Funding to get started today!