How to qualify a HML

Financing, Hard Money Lenders, Private Money
1

Hi All:

I am looking to establish relationships with HML for the purpose of getting future loans as well as helping rehabbers get a loan to take deals off my hand. How do I qualify a HML to make sure I am dealing with a stable reputable company?

2

Normally, you can check out their credentials and affiliations.

3

go to some rei meetings in your area and ask around,I have a great HML I would be happy to tell anyone about, and most people are probable the same way,I’m sure if someone had a bad experience then would be even more willing to talk

andy

4

Thanks andydallas and privatemoneyNYC for your replies.

There is a list of HMLs on this forum, has their credentials been checked? Anyone have experience good or not with any of the ones that loan in NY?

Thanks again

5

mine doesn’t loan outside of Texas, I know there are hard money lenders that lender over many states, but there is something to be said about finding one that works in your general areea/

I look to my HML for guidance on certain aspects of deals, they know whats going on in the market and can be a great asset,

The relationship with you HML is just as important, if not more important as our relationship with you Elec/AC guy, contractor, etc