Скачать или смотреть Explained: What Does A Hard Money Fund Mean? (Dave Van Horn)

In this episode, Robert talks to Dave Van Horn about hard money funds.

Robert Leonard:
A lot of our audience is newer investors. They probably heard of hard money, but they might not know necessarily what hard money fund is. Could you please explain what a hard money fund is?

Dave Van Horn:
Hard money or private money is just more of an institution doing a construction loan on a usually on a residential house. If you went down to the bank and wanted to borrow money to fix up a beat-up house that wasn’t really financeable through traditional means, most banks would say no. Unless you’re going for a construction loan, and you’re a general contractor with experience, they won’t want to lend to you. That’s where a private lender or a hard money lender comes in. They’re going to charge higher rates and stricter terms, maybe even with a draw schedule for repairs, and they’ll lend you money to acquire or fix up or both. So it’s really a short term commercial note and mortgage.

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