If you've never used hard money before....

0. Never (almost never) use hard money if you can get conventional financing.
0. Second rule:  Don't use hard money if the deal can't support it.  If the deal is thin, the hard money can will kill it.  Be sure you understand what the costs are before you make the offer.
0. Third rule:  Hard money is simply a tool that investors use to make money, so think of it that way.  We want you to make money, and go find another deal and make more money.  That's the point.  We all benefit.  We don't want to own the property, that's not the goal.

We can provide a letter that you can submit with your offer, but since our evaluation of a deal starts once you have a purchase agreement or signed offer, please don't consider the letter any sort of guarantee of funding.

We fund rehabs, multi families that are vacant or need rehab, commercial bridge loans, and one-day funding for flipping short sales.  We don't much like land these days, and condo's are not much in favor, but we'll consider them.

We fund only first position loans:  no second position rehab loans when the conventional financing is in place

No owner occupied properties, no second homes, vacation homes, or houses that your sister is buying for you to move into.  You will sign a form stating that you intend never to occupy the property.  You must take title in an entity.

 

Massachusetts and New Hampshire for now, but primarily Worcester and East, and NH Lakes Region and South

14-16% interest only payments

4-6 points up front - if you want them rolled in, it will cost more points and have to be a killer deal

6 month term, sometimes 12 months

Skin - You must have skin in the game, or cash in the deal, except in one-day simultaneous closes