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

Поділитися
Вставка
  • Опубліковано 14 чер 2024
  • Attend our FREE "How to buy your first rental property masterclass" here: www.goodsweethomes.com/how-to...
    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!
    In this video, I'll break down everything you need to know about hard money loans!
    I've been working as a hard money lender for the past few years and have funded hundreds of millions of dollars in loans so far. This video will go over the basics of how hard money loans work and what you should do to get financing for your next fix and flip project!
    Let me know if you've found this video to be useful and let me know what topic I should cover next!
    --
    ✅ ✅ Learn How To Buy Your First Out-Of-State Investment Property with our course Remote Rental Riches! bit.ly/2YDlSGh
    Want my property analysis calculator? Get it here: bit.ly/2S76mme
    Subscribe to the Channel! ► bit.ly/2yX7KKY
    Listen to the Podcast! ► apple.co/2yVGmNK
    Visit our Website! ► everythingrei.com
    Join our Meetup! ► meetup.com/everythingrei/
    Follow on Instagram! ► / im_seanpan
    #realestateinvesting #bayareainvesting #realestateinvestor

КОМЕНТАРІ • 51

  • @itsjosephhenry
    @itsjosephhenry Рік тому +1

    Great clean video , thanks for the info

  • @stefletti6637
    @stefletti6637 3 місяці тому

    This was very informative. VideoGreat

  • @sharonceaser-wheeler3364
    @sharonceaser-wheeler3364 Рік тому +1

    Awesome!

  • @alycamartin6731
    @alycamartin6731 Рік тому +1

    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.

  • @talkshowgod
    @talkshowgod 6 місяців тому

    Good info to know , good video

  • @ericfrost2481
    @ericfrost2481 Рік тому +1

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

  • @alexzancan4616
    @alexzancan4616 Рік тому +1

    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

  • @kanaparthikiran
    @kanaparthikiran Рік тому +1

    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?

  • @pablocardona5996
    @pablocardona5996 Рік тому

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

  • @joewolaver7022
    @joewolaver7022 Рік тому +1

    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

  • @Hines246
    @Hines246 Рік тому

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

    • @seanlovesrealestate
      @seanlovesrealestate  2 місяці тому

      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.

  • @ronaldwu3561
    @ronaldwu3561 2 роки тому +1

    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
      @seanlovesrealestate  2 роки тому

      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!

  • @jinnajim
    @jinnajim Рік тому

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

    • @seanlovesrealestate
      @seanlovesrealestate  Рік тому +1

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

    • @jinnajim
      @jinnajim Рік тому

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

    • @seanlovesrealestate
      @seanlovesrealestate  Рік тому

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

  • @lastamericanhero59
    @lastamericanhero59 2 роки тому +4

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

  • @elchapo11
    @elchapo11 2 роки тому

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

  • @moveithaulingjunkremoval3823
    @moveithaulingjunkremoval3823 26 днів тому

    Do you offer loans in NC?

  • @BrotherHallelujah
    @BrotherHallelujah Рік тому

    Can you help me do a deal?

  • @ericquinones1754
    @ericquinones1754 2 роки тому +1

    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
      @seanlovesrealestate  2 роки тому +1

      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
      @ericquinones1754 2 роки тому +1

      @@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
      @ericquinones1754 2 роки тому +1

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

    • @Renny12345
      @Renny12345 7 місяців тому

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

  • @bestdance117
    @bestdance117 Рік тому

    What’s Sean lender name?

  • @jesseramirez9732
    @jesseramirez9732 2 місяці тому

    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
      @seanlovesrealestate  2 місяці тому

      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
    @gurlio1000 Рік тому

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

    • @jinnajim
      @jinnajim Рік тому

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

    • @seanlovesrealestate
      @seanlovesrealestate  2 місяці тому

      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.

  • @phonesangaphayarath7326
    @phonesangaphayarath7326 Рік тому

    does this work for commercial, 64 unit

    • @seanlovesrealestate
      @seanlovesrealestate  2 місяці тому

      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

  • @dantenappi5655
    @dantenappi5655 4 місяці тому

    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
      @seanlovesrealestate  2 місяці тому

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

  • @DJSliick
    @DJSliick Рік тому

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

  • @rawfocus5259
    @rawfocus5259 Рік тому

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

    • @seanlovesrealestate
      @seanlovesrealestate  Рік тому

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

  • @mclipi64
    @mclipi64 Рік тому +1

    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
      @seanlovesrealestate  Рік тому

      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.

  • @bestdance117
    @bestdance117 Рік тому

    What’s Sean lender name?