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7 Steps to Guaranteed Hard Money Loan Approval

7 Steps to Guaranteed Hard Money Loan Approval. Hard Money Bankers, LLC www.hardmoneybankers.com. HMB Team. Chris Haddon- Investor Relations/Principal Jeffrey Shiller, Esq.- Legal Counsel/Principal Jason Balin- Underwriter/Principal. What Will You Learn Here Today?. - What Is Hard Money?

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7 Steps to Guaranteed Hard Money Loan Approval

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  1. 7 Steps to GuaranteedHard Money Loan Approval Hard Money Bankers, LLCwww.hardmoneybankers.com www.hardmoneybankers.com 800-883-8290

  2. HMB Team • Chris Haddon- Investor Relations/Principal • Jeffrey Shiller, Esq.- Legal Counsel/Principal • Jason Balin- Underwriter/Principal www.hardmoneybankers.com 800-883-8290

  3. What Will You Learn Here Today? - What Is Hard Money? - Who Uses Hard Money? - How Does a HM Lender evaluate a deal? - Ensuring Loan Approval/Long Term Relationship - Insider Tips from the “Front Lines” www.hardmoneybankers.com 800-883-8290

  4. What is a Hard Money Loan? Technically defined as "a conservative loan made against hard assets," a "Hard Money" loan (sometimes referred to as an “Equity-Based Loan”, "Private Mortgage“, or a “Bridge Loan”) is a loan that is offered when a conventional loan may not fit the borrower's lending needs.  This generally happens when a borrower needs money in order to jump on a "hot" real estate deal and does not have time to wait for the stringent and sometimes lengthy underwriting process associated with a conventional loan.  The capital for a hard money loan comes from individual investors or a private fund, not from institutions such as banks.  It can be offered in both residential and commercial real estate transactions, and the interest rate paid by borrowers typically ranges from 12-18% annually. www.hardmoneybankers.com 800-883-8290

  5. Who Uses Hard Money Loans?(and why don’t they just go to a bank?) - RE Investors, Property Owners - Time Crunch - Unfinished or not stabilized properties - Bridge Loan (short term) www.hardmoneybankers.com 800-883-8290

  6. What Types of Properties? - Local Real Estate (DC, MD, NoVA primarily) - Residential Investment Properties - Small Commercial (Multi Unit Apt, Office) - Rehab and Moderate Construction www.hardmoneybankers.com 800-883-8290

  7. Insider Tip #1 Ask the HM lender what their “sweet spot” is www.hardmoneybankers.com 800-883-8290

  8. How Do We Evaluate a Deal: 4 C’s Collateral Character Capacity/Exit Strategy Credit www.hardmoneybankers.com 800-883-8290

  9. Insider Tip #2 Credit isn’t everything…but it tells a story www.hardmoneybankers.com 800-883-8290

  10. Step 1 - Find the Deal - Follow Your Formula - MLS, Bank REO - Short Sales - Estate Sales www.hardmoneybankers.com 800-883-8290

  11. Insider Tip #3 Bank REO’s are hot right now! Check out HMB Cribs. www.hardmoneybankers.com 800-883-8290

  12. Step 2 Executive Summary with Exit Strategy www.hardmoneybankers.com 800-883-8290

  13. Insider Tip Deal Evaluation Spreadsheet http://www.hardmoneybankers.com/f/rehab.xls www.hardmoneybankers.com 800-883-8290

  14. Step 3 Full Loan App with Personal Financial and REO http://www.hardmoneybankers.com/loanapplication.html www.hardmoneybankers.com 800-883-8290

  15. Step 4 Comparable Sales and Pics of Subject Property There’s NEVER enough pics!! www.hardmoneybankers.com 800-883-8290

  16. Insider Tip #4 Don’t Inflate Your Exit Price! (ARV) www.hardmoneybankers.com 800-883-8290

  17. Step 5 Contractor Estimate/Scope of Work Draw Schedule with Timeframe www.hardmoneybankers.com 800-883-8290

  18. Insider Tip #5 Upgrades On Par With The Neighborhood www.hardmoneybankers.com 800-883-8290

  19. Step 6 Bring Something to the Table: - Cash - Collateral (or X-Collateral) - Credit - Experienced Partner Times Have Changed Since 2004! www.hardmoneybankers.com 800-883-8290

  20. Step 7 Perform! In Every Way Possible www.hardmoneybankers.com 800-883-8290

  21. Insider Tip It’s All About the Relationship #6 www.hardmoneybankers.com 800-883-8290

  22. Hard Money Bankers Hard Money Bankers, LLC 9017 Red Branch Rd., Suite H Columbia, Maryland 21045 800-883-8290 Check Our New Blog: HMBCribs.com www.hardmoneybankers.com 800-883-8290

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