Hard Money Behind the Scenes
So you have been looking for houses to purchase and rehab. Hopefully a bunch of people have given you great ideas about how to find houses and doing the repairs. (If not we will get to those in future shows.) If you are like most of us you have also spent a lot of time trying to understand financing. Hard money lenders are an excellent source for financing if you need the money quickly and you plan to sell or refinance the house afterwards. In fact if the house you are interested in needs a lot of repairs hard money or cash out of pocket may be your only choices.
You found a lender you found a house and now you are ready to get things going. But how do you get the money from the lender, what kind of records do you need to keep and what is it REALLY costing you? We have Tim Sykes on this week to answer those questions and many you may have never thought about. Tim is not a hard money lender, he is an underwriter. Tim understands real estate investing from the lenders standpoint and also understands how to assess risk. This is a behind the scenes look at hard money lending.
If that isn’t enough Lynn has a great website to give you a back door approach to finding homes that have been foreclosed on the banks need to sell. We have also added a new weekly feature that may not help you learn about real estate investing the right way but you may learn how not to do it. We will talk about what we did this week. No pie in the sky real estate investing schemes. No this time we really Get Real.
As always visit us at www.getrealrei.com or send us comments and show ideas to getrealshow@getrealrei.com, remember get educated and most importanly, Get Real.