Hard money loan approach
I’m interested in HML (hard money loans) and want to start flipping investment homes now. I have some contractors in line. What’s the best way to approach and establish a rapport with hard money lenders?
Great question. You’re off to a good start by having contractors lined up. In order to establish rapport with a hard money lender you really need to complete a deal with them so you can build on the working relationship and show on-time payments, renovations were done on schedule etc. Before that happens, they like to work with investors with some type of real estate experience. Make sure to highlight if you do any handy work yourself, ever managed or leased properties or have a real estate license. It may be a good idea to partner up with an experienced investor on your first deal if you don’t have any experience. We have a great article on starting a house flipping business too. https://fitsmallbusiness.com/how-to-start-your-own-house-flipping-business/
Best of luck,