How Hard Money Loans Work in 2024! (Easy Beginners Guide To Hard Money Loans)

[@Sergio-e5y]

For those that dont want to watch the entire video. A hard money loan is quick loan that lenders give to you depending on your deal. They are high interest and should be paid off in a year. They are used by investors for flipping homes. That’s it. You are welcome to

[@itsjosephhenry]

Great clean video , thanks for the info

[@seanlovesrealestate]

Thank you. Appreciate it! ☺️

[@alycamartin6731]

Thank you for great Insights ! I just love this video. I have suggested my cousin to get multi home construction loans in Tampa from First Nation Finance LLC.

[@seanlovesrealestate]

Let your friends know! Appreciate your support, Alyca! ❤️

[@ericfrost2481]

Just came across your video. Thank you 🙏. Pleasure to meet you.

[@seanlovesrealestate]

Thanks for watching, Eric! ☺️

[@stefletti6637]

This was very informative. VideoGreat

[@seanlovesrealestate]

Thanks!

[@lastamericanhero59]

We are ready to buy a house we have 80k saved

[@talkshowgod]

Good info to know , good video

[@seanlovesrealestate]

Glad it was helpful!

[@pablocardona5996]

I will like to get more information im new in this business but will love to have a lender i can trust

[@sharonceaser-wheeler3364]

Awesome!

[@seanlovesrealestate]

Thank you!

[@joewolaver7022]

Hi Sean,I just saw your video on hard money lending.I belive you are very honest and helpful.I am new at house fliping and will soon be in the market.I just set up an lLC and bussiness accounts.I would like to find out more about how hard money,equity partner,ext work.I would be interested in you as a possible mentor.please advise,thank you

[@seanlovesrealestate]

Appreciate it! Thank you.

[@moveitjunk]

Do you offer loans in NC?

[@jinnajim]

Sean, Are you still doing Hard Money Loans or just strictly the courses and social media? I'm a new subscriber, thanks.

[@seanlovesrealestate]

Hey Jinna, I already quit my job but I can refer my previous company if you need one.

[@jinnajim]

@Sean Pan please do, I'll give them a call if you recommend them.

[@seanlovesrealestate]

You can go to cvlending.com and kindly tell them that you came from my channel. You can ask for a discount. ☺️

[@alexzancan4616]

Hi Sean, New to the hard money lender process. My wife and I found a great property to fix and then rent or sell. We already have a rental in the Bahamas that is doing extremely well for us and we want to do something closer to home. I watched one of your videos and you said you do loans for purchase and rehab. Do you have a website were we could fill some forms out and talk and go from there? Thank you Alex

[@dantenappi5655]

Why would the hard money lender need to see that I have the money for the rehab? Isn't the rehab money part of the loan based on ARV?

[@seanlovesrealestate]

Sometimes people don't get construction loans. They just want to see that there's a plan and funds to cover the rehab.

[@kanaparthikiran]

What are the options if the rent comes lower and I don't qualify for the refinance? unfortunately if no credit union also ready to refinance this deal? can I still keep the house by paying difference from the original principal?

[@jesseramirez9732]

I have a quick question when I get the general contractor do I need to give him a down payment or I need him to finish at least half of the job then I will pay that half

[@seanlovesrealestate]

it depends on how you negotiate with your contractor. But generally speaking, they usually want 20% down to cover the material costs and to have some startup money to pay their crew before doing your job.

[@gurlio1000]

What is the down payment based off on? The purchase price? Or the total amount of the loan?

[@jinnajim]

I believe it's the total amount of the loan.

[@seanlovesrealestate]

Depends on how much your construction loan is (i.e. if you're getting 100% of rehab or 80%). They want to make sure you have enough to cover the rest.

[@ericquinones1754]

I'm buying a house thru the court. Do you guys provide cash? When you buy thru the court you have to buy it with cash.

[@seanlovesrealestate]

It depends if they allow a due diligence period. If they need all of the funds right there and then, then we won't be able to fund this deal.

[@ericquinones1754]

@@seanlovesrealestate I got 65k already, I just need like 30k more. I also own 2 rental buildings, so it's not my first time.

[@ericquinones1754]

@@seanlovesrealestate Sean, how does the due diligence work?

[@Renny12345]

@ericquinones1754 did u ever find a hard money lender? You should get into contact with me and let’s do business if u want

[@ronaldwu3561]

Hi Sean, Thanks for all the incredible insight! I’m interested in house flipping but have found it hard to pull the trigger. The biggest barrier is not knowing how to locate a reputable contractor. I hear a lot about bad contractors, so wanted to see if you have any solid contacts to share. With this, I think I’d be interested in a hard money loan. Thank you in advance!

[@seanlovesrealestate]

Finding a contractor is very difficult. You need to speak with other investors to get good recs. Be sure to check references and photos of their work!

[@Hines246]

Thank you for the information. Is it possible to buy and hold an investment property in an LLC via conventional banks?

[@seanlovesrealestate]

Most conventional lenders will not lend to an LLC directly, but usually you can buy it under your personal name then transfer to the LLC afterwards.

[@elchapo11]

Do you do rehab loans? On top of the hard money.

[@seanlovesrealestate]

Yes we do! Up to 85% of the rehab costs.

[@bestdance117]

What’s Sean lender name?

[@BrotherHallelujah]

Can you help me do a deal?

[@bestdance117]

What’s Sean lender name?

[@phonesangaphayarath7326]

does this work for commercial, 64 unit

[@seanlovesrealestate]

Possibly, but you need to call a lot of hard money lenders who are willing to hold on to the loan in their own portfolio

[@DJSliick]

Ahh Soo You Def Have To Have Thousands of Dollars of your own money. Especially if your 1st starting out.

[@rawfocus5259]

Do you get your down payment back on a hard money loan?

[@seanlovesrealestate]

When you sell the property, you pay off the lender first. The rest is yours to keep.

[@mclipi64]

hi Sean . please help to get hard money loan . I m in contract have to close by April 30 2023 . please provide any # so I can contact asap you to get the deal done with out any hassale

[@seanlovesrealestate]

Hey! If you're looking for a hard money loan, apply at www.cvlending.com and mention that you came from Sean's channel to get $500 off of your processing fees.