How to Find Hard Money Lenders For Real Estate
Of course, you can use Google or your favorite search engine to find a hard money lender. You still want to make sure the hard money lending company is credible.
Finding a Hard Money Lender for Real Estate who is Credible
This brings up the interesting question: How do you go about finding out if the lender you find is credible?
One indication might be this: To what extent is the lender going out of his way to educate the community about when hard money is a good fit and when it is not?
At RanchoTed we think it is very important to be transparent about the correct use of hard money. We regularly educate real estate agents and brokers about what is a good situation or what’s not an appropriate situation for the use of hard money.
Finding a Hard Money Lender for Real Estate By Referral
Another way to find how to find hard money lenders is via word-of-mouth and referrals. Ask people in your environment who they recommend.
- How easy are they to work with?
- Are they able to close fast/ within your required timeframe?
- Which niche do they operate in (e.g., purchases, construction, flips, commercial real estate, big loans, etc.)?
- Did they answer all your questions to your satisfaction?
- Are they competitive?
- Would they use this lender again?
- Is the lender active in your local community and its Real Estate Association/s?
- Does the lender have a valid broker’s license? It is required by law. The reason hard money lenders must have a broker’s license is that the government wants to make sure that the hard money lender is educated on the laws of real estate.
RanchoTed receives much of its business by referral. We are a top lender in San Diego County and beyond. We thoroughly believe in educating realtors, brokers, and borrowers about the correct use of hard money for Real Estate purchases and investments. We are a one-stop-shop, which means you don’t have to shop a variety of hard money lenders for your Real Estate hard money needs. We use a commonsense lending philosophy to solve borrower’s situational lending challenges.