How Hard Money Loans Work in 2024! (Easy Beginners Guide To Hard Money Loans)

Attend our FREE "How to buy your first rental property masterclass" here: www.goodsweethomes.com/how-to...
If you're looking for a hard money loan, apply at www.cvlending.com and mention that you came from Sean's channel to get $500 off of your processing fees!
In this video, I'll break down everything you need to know about hard money loans!
I've been working as a hard money lender for the past few years and have funded hundreds of millions of dollars in loans so far. This video will go over the basics of how hard money loans work and what you should do to get financing for your next fix and flip project!
Let me know if you've found this video to be useful and let me know what topic I should cover next!
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Пікірлер: 52

  • @itsjosephhenry
    @itsjosephhenry Жыл бұрын

    Great clean video , thanks for the info

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Thank you. Appreciate it! ☺️

  • @sharonceaser-wheeler3364
    @sharonceaser-wheeler3364 Жыл бұрын

    Awesome!

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Thank you!

  • @stefletti6637
    @stefletti66375 ай бұрын

    This was very informative. VideoGreat

  • @seanlovesrealestate

    @seanlovesrealestate

    5 ай бұрын

    Thanks!

  • @talkshowgod
    @talkshowgod7 ай бұрын

    Good info to know , good video

  • @seanlovesrealestate

    @seanlovesrealestate

    7 ай бұрын

    Glad it was helpful!

  • @ericfrost2481
    @ericfrost2481 Жыл бұрын

    Just came across your video. Thank you 🙏. Pleasure to meet you.

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Thanks for watching, Eric! ☺️

  • @alycamartin6731
    @alycamartin6731 Жыл бұрын

    Thank you for great Insights ! I just love this video. I have suggested my cousin to get multi home construction loans in Tampa from First Nation Finance LLC.

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Let your friends know! Appreciate your support, Alyca! ❤️

  • @alexzancan4616
    @alexzancan4616 Жыл бұрын

    Hi Sean, New to the hard money lender process. My wife and I found a great property to fix and then rent or sell. We already have a rental in the Bahamas that is doing extremely well for us and we want to do something closer to home. I watched one of your videos and you said you do loans for purchase and rehab. Do you have a website were we could fill some forms out and talk and go from there? Thank you Alex

  • @pablocardona5996
    @pablocardona5996 Жыл бұрын

    I will like to get more information im new in this business but will love to have a lender i can trust

  • @kanaparthikiran
    @kanaparthikiran Жыл бұрын

    What are the options if the rent comes lower and I don't qualify for the refinance? unfortunately if no credit union also ready to refinance this deal? can I still keep the house by paying difference from the original principal?

  • @lastamericanhero59
    @lastamericanhero592 жыл бұрын

    We are ready to buy a house we have 80k saved

  • @joewolaver7022
    @joewolaver7022 Жыл бұрын

    Hi Sean,I just saw your video on hard money lending.I belive you are very honest and helpful.I am new at house fliping and will soon be in the market.I just set up an lLC and bussiness accounts.I would like to find out more about how hard money,equity partner,ext work.I would be interested in you as a possible mentor.please advise,thank you

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Appreciate it! Thank you.

  • @ronaldwu3561
    @ronaldwu35612 жыл бұрын

    Hi Sean, Thanks for all the incredible insight! I’m interested in house flipping but have found it hard to pull the trigger. The biggest barrier is not knowing how to locate a reputable contractor. I hear a lot about bad contractors, so wanted to see if you have any solid contacts to share. With this, I think I’d be interested in a hard money loan. Thank you in advance!

  • @seanlovesrealestate

    @seanlovesrealestate

    2 жыл бұрын

    Finding a contractor is very difficult. You need to speak with other investors to get good recs. Be sure to check references and photos of their work!

  • @Hines246
    @Hines246 Жыл бұрын

    Thank you for the information. Is it possible to buy and hold an investment property in an LLC via conventional banks?

  • @seanlovesrealestate

    @seanlovesrealestate

    3 ай бұрын

    Most conventional lenders will not lend to an LLC directly, but usually you can buy it under your personal name then transfer to the LLC afterwards.

  • @moveithaulingjunkremoval3823
    @moveithaulingjunkremoval38232 ай бұрын

    Do you offer loans in NC?

  • @jinnajim
    @jinnajim Жыл бұрын

    Sean, Are you still doing Hard Money Loans or just strictly the courses and social media? I'm a new subscriber, thanks.

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Hey Jinna, I already quit my job but I can refer my previous company if you need one.

  • @jinnajim

    @jinnajim

    Жыл бұрын

    @Sean Pan please do, I'll give them a call if you recommend them.

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    You can go to cvlending.com and kindly tell them that you came from my channel. You can ask for a discount. ☺️

  • @elchapo11
    @elchapo112 жыл бұрын

    Do you do rehab loans? On top of the hard money.

  • @seanlovesrealestate

    @seanlovesrealestate

    2 жыл бұрын

    Yes we do! Up to 85% of the rehab costs.

  • @jesseramirez9732
    @jesseramirez97323 ай бұрын

    I have a quick question when I get the general contractor do I need to give him a down payment or I need him to finish at least half of the job then I will pay that half

  • @seanlovesrealestate

    @seanlovesrealestate

    3 ай бұрын

    it depends on how you negotiate with your contractor. But generally speaking, they usually want 20% down to cover the material costs and to have some startup money to pay their crew before doing your job.

  • @ericquinones1754
    @ericquinones17542 жыл бұрын

    I'm buying a house thru the court. Do you guys provide cash? When you buy thru the court you have to buy it with cash.

  • @seanlovesrealestate

    @seanlovesrealestate

    2 жыл бұрын

    It depends if they allow a due diligence period. If they need all of the funds right there and then, then we won't be able to fund this deal.

  • @ericquinones1754

    @ericquinones1754

    2 жыл бұрын

    @@seanlovesrealestate I got 65k already, I just need like 30k more. I also own 2 rental buildings, so it's not my first time.

  • @ericquinones1754

    @ericquinones1754

    2 жыл бұрын

    @@seanlovesrealestate Sean, how does the due diligence work?

  • @Renny12345

    @Renny12345

    9 ай бұрын

    @ericquinones1754 did u ever find a hard money lender? You should get into contact with me and let’s do business if u want

  • @BrotherHallelujah
    @BrotherHallelujah Жыл бұрын

    Can you help me do a deal?

  • @bestdance117
    @bestdance117 Жыл бұрын

    What’s Sean lender name?

  • @gurlio1000
    @gurlio1000 Жыл бұрын

    What is the down payment based off on? The purchase price? Or the total amount of the loan?

  • @jinnajim

    @jinnajim

    Жыл бұрын

    I believe it's the total amount of the loan.

  • @seanlovesrealestate

    @seanlovesrealestate

    3 ай бұрын

    Depends on how much your construction loan is (i.e. if you're getting 100% of rehab or 80%). They want to make sure you have enough to cover the rest.

  • @phonesangaphayarath7326
    @phonesangaphayarath7326 Жыл бұрын

    does this work for commercial, 64 unit

  • @seanlovesrealestate

    @seanlovesrealestate

    3 ай бұрын

    Possibly, but you need to call a lot of hard money lenders who are willing to hold on to the loan in their own portfolio

  • @dantenappi5655
    @dantenappi56556 ай бұрын

    Why would the hard money lender need to see that I have the money for the rehab? Isn't the rehab money part of the loan based on ARV?

  • @seanlovesrealestate

    @seanlovesrealestate

    3 ай бұрын

    Sometimes people don't get construction loans. They just want to see that there's a plan and funds to cover the rehab.

  • @DJSliick
    @DJSliick Жыл бұрын

    Ahh Soo You Def Have To Have Thousands of Dollars of your own money. Especially if your 1st starting out.

  • @rawfocus5259
    @rawfocus52592 жыл бұрын

    Do you get your down payment back on a hard money loan?

  • @seanlovesrealestate

    @seanlovesrealestate

    2 жыл бұрын

    When you sell the property, you pay off the lender first. The rest is yours to keep.

  • @mclipi64
    @mclipi64 Жыл бұрын

    hi Sean . please help to get hard money loan . I m in contract have to close by April 30 2023 . please provide any # so I can contact asap you to get the deal done with out any hassale

  • @seanlovesrealestate

    @seanlovesrealestate

    Жыл бұрын

    Hey! If you're looking for a hard money loan, apply at www.cvlending.com and mention that you came from Sean's channel to get $500 off of your processing fees.

  • @bestdance117
    @bestdance117 Жыл бұрын

    What’s Sean lender name?