So in construction contractors will look to traditional lending first. Banks and such. Then they will look to hard money lending. During the Great recession there was 25-30% rates out there.
I was chatting w/a new contractor and they asked me about finding hard money. Typically Realtors will know investors or a group of investors. And this is where i steered her.
But I was thinking she only wants $50k. And I'm thinking about a few hundred thousand in MM accounts. I'm too risk averse but it's tempting
What's the worst that can happen? (LOL)
I was chatting w/a new contractor and they asked me about finding hard money. Typically Realtors will know investors or a group of investors. And this is where i steered her.
But I was thinking she only wants $50k. And I'm thinking about a few hundred thousand in MM accounts. I'm too risk averse but it's tempting
What's the worst that can happen? (LOL)