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agent portal do hard money

by Daisha Macejkovic Published 8 months ago Updated 4 months ago
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Does do hard money offer 100% financing?

No more asking friends or family to co-sign … No more wondering how you can get started with fix and flips. Do Hard Money is well-known for providing 100% hard money financing to those who qualify: meaning, we fund 100% of the purchase property, rehab costs and other costs and fees.

What is a hard money loan for real estate investment?

Most hard money lenders require a down payment for a real estate investment. What’s more, it’s usually a higher down payment than is required for a traditional mortgage — 20%-30%. Why? Because hard money loans are riskier, and your private money lender wants to protect their investment.

How does do hard money work?

As private money lenders, we provide funding for you to purchase investment properties and rehab them. If you finish your fix and flip early, Do Hard Money doesn’t charge a penalty — that means more money in your pocket. NO PAYMENTS FOR 5 MONTHS. We want you to keep the focus on completing rehab work, not worrying about making monthly payments.

Why work with a hard money lender?

There’s no doubt about it: working with a hard money lender that has been around for the last 15 years and focuses specifically on funding your next real estate deal makes life instantly better for you AND your wallet. No more begging the bank for loans … No more asking friends or family to co-sign …

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What does hard money refer to?

Hard money is a type of lending often used in real estate investing. Hard money loans are also known as asset-based loans, bridge loans or STABBL loans (short-term asset-backed bridge loans). Hard money loans are used for short-term financing, and the loans are always secured by an asset.

Is Hard money lending profitable?

In reality, becoming a hard money lender is not very complicated. With a little knowledge and some tips, you can easily earn 8% to 12% return or more on your cash without virtually any risk to you.

Can anyone become a lender?

Becoming a hard money lender can be as simple or complex as you want. If you're able to finance the business yourself, it may free you from several legal requirements you'll need to meet. On the other hand, bringing on outside money will allow you to service more real estate investors and grow your business quickly.

How do I become a hard money lender in NY?

How To Become A Hard Money LenderName your business and create your company structure.Set up an online presence for your business.Seek legal counseling on the creation of a limited liability company.Investigate potential investment opportunities.Make a business plan and draft the criteria of future loans.More items...

Do I need a license to lend money?

Who is Required to Obtain a Finance Lenders License? In general, any person engaging in the business of a finance lender or finance broker in California is required to obtain a license under the California Financing Law.

How do I start a lending business?

If you are going to start your own lending company, here are the steps to take:Comply with registration requirements. ... Know the current legal requirements. ... Study your target market. ... Hire the right employees. ... Learn how to screen and collect from clients.

How can I become a small money lender?

How to become a lenderGet a bachelor's degree. ... Gain experience. ... Obtain a mortgage license. ... Apply for lending jobs. ... Develop lending skills. ... Stay updated.

Is private lending profitable?

For the private money lender, lending money can be a great way to earn passive monthly income and a great rate of interest, while using physical real estate as security for your investment. If it's done right, private lending can be a win-win for everyone!

How do I structure a hard money loan?

3:0920:10How to Structure a Private Money Loan For Real Estate ... - YouTubeYouTubeStart of suggested clipEnd of suggested clipDeal but typically all banks take points up front at the closing. And one point is equal to oneMoreDeal but typically all banks take points up front at the closing. And one point is equal to one percent of the loan. Great thank you. So so what i want to emphasize in this basic structure.

How much interest do private lenders charge?

between 6-15%Quick Summary: What interest rate do private lenders charge? Generally speaking, private lenders will charge between 6-15%, but this depends on the purpose of the loan, the length of the loan, and the relationship between the borrower and the lender.

What is the difference between hard money and private money?

Private money lenders typically are not organized money lenders and are not usually licensed to loan money. Hard money lenders, on the other hand, are organized money lenders and are usually in some way licensed to loan money. Hard money lenders typically have lending criteria.

How does a private lender work?

Private lenders are in the business of taking funds from private investors and making private business purpose loans with those funds. The investors expect a decent return from their investments, and interest rate from money borrowed from banks is significantly higher than the banks are being charged for the funds.

Why do people want hard money loans?

Hard money loans are used for quick turnarounds between the purchase and sale of a property. They can also be used for quick home financing until the buyer secures a traditional loan. These loans are generally used in the real estate industry.

How do I structure a hard money loan?

3:0920:10How to Structure a Private Money Loan For Real Estate ... - YouTubeYouTubeStart of suggested clipEnd of suggested clipDeal but typically all banks take points up front at the closing. And one point is equal to oneMoreDeal but typically all banks take points up front at the closing. And one point is equal to one percent of the loan. Great thank you. So so what i want to emphasize in this basic structure.

Is hard money loan interest tax deductible?

In order for interest on a hard money loan to be deductible, the loan would have to be used for business purposes. Interest on personal loans (with the exception of mortgages and student loans) is not deductible. Fortunately, the government takes a broad view of business expenses.

What is the difference between hard money and private money?

Private money lenders typically are not organized money lenders and are not usually licensed to loan money. Hard money lenders, on the other hand, are organized money lenders and are usually in some way licensed to loan money. Hard money lenders typically have lending criteria.

What are hard money loans?

A hard money loan is a short-term loan, sometimes called a bridge loan. It is not meant for those looking for mortgage loans to buy a home to live...

What do you need to qualify for a hard money loan?

Very little. With a hard money loan, the property you are purchasing is used as collateral for the loan. Therefore, your creditworthiness is not as...

Where do you get a hard money loan?

Banks and traditional lenders do not deal in hard money lending. Hard money loans are only made through private companies and individuals. That’s b...

How long does it take to get a hard money loan?

With Do Hard Money, you can get a hard money loan in an average of 12 days.

Do I need to have a down payment to get a hard money loan?

Not necessarily. Many hard money lenders require 20% to 30% down for hard money loans, but at Do Hard Money, you can get a no-money-down loan.

What are the advantages of getting a hard money loan?

With a hard money loan, you get your cash quickly — within days, regardless of your credit score. Sometimes a hard cash loan is the only avenue ava...

What makes Do Hard Money different?

With our Find-Fund-Flip System, we provide you with software to help you find and market to off-market property owners, training for every step, an...

Why invest in fix and flip properties?

Investing in fix & flip properties has a positive effect, boosting the economies and quality of life for neighborhoods and communities. It also provides you with the opportunity to create wealth to accomplish your life goals like getting out of debt, save for retirement, and much, much more.

Do hard money funds?

Do Hard Money is well-known for providing 100% hard money financing to those who qualify: meaning, we fund 100% of the purchase property, rehab costs and other costs and fees. We also:

Just Getting Started?

Then you’ve come to the right place… We’ve helped thousands of beginners learn the ropes and avoid the most common pitfalls. As an actual hard money lender, we are better positioned to help you learn than other real estate investing programs.

Need Help Finding Properties?

Haven’t had much luck digging through the MLS? Don’t worry… you’re not alone. This is the first big hurdle to most investors, but we have expert solutions to help you rise above the competition and find properties the way the pros do… with high margins and low competition.

Need A Hard Money Lender For A Property Under Contract?

You’ve got a property and we’ve got the money… that’s what you’re looking for right? Well you’re in luck… you can apply for free in just minutes and get all the preliminary details like loan amount, cash-to-close, loan costs, and more. Then you can decide to move forward.

What do we fund when you find an off market deal?

When you find an off-market deal good enough, we’ll fund your purchase, rehab, points, interest, & closing costs.

Why is wholesaling good?

Wholesaling allows you to make a quick profit without carrying the costs of a loan.

What Is 100% Financing?

Most hard money lenders require a down payment for a real estate investment. What’s more, it’s usually a higher down payment than is required for a traditional mortgage — 20%-30%. Why? Because hard money loans are riskier, and your private money lender wants to protect their investment.

Is enrollment a good investment?

It’s a simple, interactive, and immersive experience that turns you into a true real estate investment professional and ultimately allows you to reach your financial goals. Enrollment is a great investment in your business and your future.

DISCOVER HOW TO CREATE DEALS OUT OF THIN AIR WITH PRACTICALLY NO COMPETITION, AGAIN AND AGAIN

Filter by vacancies, equity, bankruptcies, owner-occupied, liens, foreclosures, and much more.

ALL THE DATA YOU NEED TO MAKE DECISIONS

Is this property a great fix & flip opportunity? Get property details, MLS status, estimated value, comparables, estimated equity, rent estimates, liens, mortgage balances, owner information, and much more!

160 MILLION PROPERTY RECORDS, RIGHT AT YOUR FINGERTIPS

Enter your investing zip code and watch as properties are instantly sorted into categories such as:

ONE-CLICK POSTCARDS

Use our templates to print out postcards with your hyper-targeted sellers’ addresses already there. Never waste another dollar marketing to the wrong person.

THE FIND-FUND-FLIP SYSTEM

In addition to hard money loans, we’ve created an entire system of resources to turn you into a fix & flip pro. You’ll get deal-finding software, profit analysis software, 100+ training videos, downloadable contract templates, marketing files, and so much more. We realized that the more we help you find deals, the more we both win.

ESTIMATE REHAB COSTS

Our best-in-the-business Rehab Estimator can evaluate project costs for virtually anything you want to take on.

TAKE IT TO THE BANK

The accuracy of your profit estimates is paramount. That’s why we’ve devoted a ton of training, software, and manpower to help you tabulate everything from the purchase price to holding costs.

LEADING VALUE VERIFICATION

Our multi-step process is the most rigorous you’ll find. Between our 17-step value certification course, our screen recordings while evaluating your property, and sending independent and certified real estate agents out to verify, you can rest assured that you’ve got a deal worth pursuing.

UNPARALLELED TRANSPARENCY

Have you ever had an insurance company deny a claim with no explanation? Or a bank turn down a loan and you don’t know why? We think that’s bad business. If we turn down your loan, you’ll know exactly the reason and how to avoid it the next time.

REAL ESTATE PROFIT CALCULATOR

Our one-of-a-kind Advanced Deal Analyzer software takes all your values, assesses total costs based on your specific deal and location, and spits out a final profit number using the loan programs we offer.

WHAT IS THE ADVANCED DEAL ANALYZER?

Simply put, this proprietary real estate investing software is designed to determine whether you should pursue your deal or not. You’ll plug in the purchase price and estimated repair costs, and our software will tell you exactly what costs to expect, how much cash-to-close you’ll need to bring, and how much profit you can expect to make on the deal.

Is there a guarantee on what we'll loan?

While the results aren’t a guarantee of what we’ll loan, you’ll have a great idea of the numbers you’re working with without calling or waiting for us to figure it out.

Can you buy Deal Analyzer?

You can purchase the Advanced Deal Analyzer as a monthly subscription or as part of our Find-Fund-Flip System.

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