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Rookie Reply: Permitting Problems and Finding Hard Money Lenders
Description
This week’s question comes from Carlos, who directly messaged Ashley on the BiggerPockets Real Estate Rookie Bootcamp! Carlos is asking: Do you recommend, or is it even possible, to use a hard money lender from a different state?
Hard money lenders and hard money loans are a crucial part of real estate investing for many real estate investors. If you’re a rehabber, flipper, or BRRRR-er, there’s most likely a chance you’ll need hard money in the future. But how do you find a hard money lender without past experience with one?
Here are some suggestions:
Use investor referrals and sites like BiggerPockets to find hard money lenders
Be specific when you ask a hard money lender questions to make sure they can lend in your area
Inquire about the criteria that your hard money lender looks at when lending
Relay your strategy to your hard money lender, to ensure they can lend on the property type you’re looking at
And more in the episode…
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Links from the Show
Real Estate Rookie Facebook Group
BiggerPockets Rental Property Calculator
BiggerPockets Real Estate Investing Bootcamp
Check the full show notes here: https://www.biggerpockets.com/rookie162
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