OfflineWhat exactly is the process of getting a hard money loan and how do I apply it to a deal? I plan to do a double close. I have a few possible deals, and properties I would like to place offes on. All for assignment. I have my end buyer(s)lined up when I lock something up. When I get proof of funds from the lender and submitt my offer and it is accepted. From this point how does the hard money loan kick in? Do I call them and tell them my offer has been accepted or is it automatically put in process by the bank who wants the funds? I will only need the hard money for about a hour.Close out on the property and then right after close out with my end buyer. Pay hard money lender back right away take me portion. I just need to understand the process of using a hard money lender,unsure of this approach due to lack of knowledge on how it works. Need a little assistance.So I can submitt some offers on the properties I have looked at. Sorry for long draft.
Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
I don't think you really want a hard money loan for a double closing. Try www.coastal-funding.com They specialize in double closings. Hope this helps.
Josh
I'm meeting with my Title Co.to go over a double close and see if I get anything out of it that way.You can also call coastal funding and they might be able to give you a better example how their process works.
Jason S.
San Diego, CA.
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