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Chris Jameson started investing in the San Antonio real estate market in 2011 and soon after entered the private financing market. He has facilitated over $60M in loans and acquired over 60 units for his personal portfolio.
In this episode, Chris and I talk about the ins and outs of hard money loans and how to work with hard money lenders.
One of the biggest benefits for new investors is that hard money lenders can help keep you out of trouble. They usually won’t lend if the deals isn’t likely to make you money.
There are some hard money lenders that Chris calls “Loan To Own”. These lenders are more interested in creating the loan with the intention of getting the house from you when you default on the loan… usually after it’s already partially or mostly rehabbed!
Check out the show notes page at http://flippingjunkie.com/37 to download Chris’s hard money lender checklist, hard money lending exposed pdf, repair estimates guide and his contact information.
In this episode we answer all of the following questions and more.
- What exactly is a hard money lender?
- Why are they better than getting traditional financing?
- What characterizes a “good” hard money lender?
- What is typically required from a borrower for a loan?
- What kinds of deals and/or how do you analyze whether you will lend on a given deal?
- What is the process from start to finish for someone wanting to get a loan for the first time?
- You guys loan throughout Texas right? For people outside of Texas, how would you suggest they find a “good” lender?
- Do you have any interesting stories about deals or borrowers that you wouldn’t mind sharing?
Download The Guides and Checklist
Contact Chris at (210) 853-5777
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