How to Get a Hard Money Loan: A Guide for Beginners

So, you just got that great bank-owned property under contract and now you need a loan to buy, fix and flip. You went to three hard money lenders, and they turned you down.
Why? Because you STINK at selling your deal. That’s right, you need to learn how to SELL your deal to a lender.
Start by getting a binder from Office Depot, with a set of tabs you can print on.

Mark the Tabs into Sections and Include This Information

Hard Money Loan Presentation

Your professional hard money loan presentation wins the day.


About Me. This section should contain a FNMA 1003 loan application, a copy of your credit report, a copy of your driver’s license, and a brief resume of your experience.
If you have no experience, then at least put a list of books and seminars you’ve been through.  A list of references would help, too.
Purchase Contract. A copy of the purchase contract with addenda goes here.
Appraisal. Ideally, an appraisal, but at least a real estate broker BPO (broker’s price opinion) goes here.
Insurance Binder. A copy of a commitment to insure from your insurance provider goes here.
Title Commitment. A copy of the title commitment goes here.
Photos. Detailed photos in and outside of the property in color go here.
Inspection. Have a professional inspection done of the property and put his report here.
Repair estimate. A repair estimate from a licensed general contractor and a copy of his license go here.
Numbers. Insert a spreadsheet of the breakdown of the numbers.  Your purchase costs, closing costs, holding costs, repairs, realtor fees, etc.
Timeline. A diagram of the outline of your construction project goes here.
Now, you’ve got a product you can sell.  Go out and approach your hard money lender and see if your results are different!