Robert shemin - How To Be a Hard Money Lender

Robert Shemin How to be a Hard Money Lender

Probably the best business in Real Estate Investing is Hard Money Lending. I’ll never forget my first mentor, a multi-millionaire, telling me : “Robert Shemin, all Real Estate Investors start the same way. 

They buy little houses, fix them, sell them or rent them.

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After 3, 4, 5 years of that, they start wholesaling them

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Then they get bigger houses & do bigger rehabs & bigger rentals.

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After 4-10 years, they make a lot of money

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Then they buy bigger apartment buildings, nicer homes and some commercial property

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At this point they’re really starting to make money

we can agree it’s a great business. But you better check with a local attorney to make sure you follow all the legalities

Here The Basic Rules Of Hard Money Lending 

Only lend to other investors as a business loan.

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Get a great lawyer, title company or escrow company that does loans and understands them.

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Make sure that you’re only loaning 50 up to maybe 70% loan to value with all the repairs.

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Make sure the person you’re dealing with is a professional with a working system in place and never loan out all the money at once

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The 2 biggest mistakes people make in Hard Money Lending are 1) They don’t confirm the value.

2) Miscalculating repairs.

You could have a couple of hundred thousand or millions of dollars lent out that are always working for you. It’s a great business. And just like my mentor said, why wait 20 years to get into it? Why not get into it now? It’s a great business!

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