Aren’t hard money lenders “shady”?
Hard money lending has a well-deserved stigma. There were previously many bad apples in the business. But like any business, hard money had its good and bad lenders and as the business evolved over time, there are many more good than bad. The key is knowing how to find the good lenders and the questions to ask to perform your due diligence. So don’t let the stigma scare you. There are a plethora of new “private money lenders” emerging who are well-trained professionals acting in the best interest of borrowers. The hard money lending industry has changed significantly over the last decade and a cottage industry of professionals has emerged which pride themselves on serving as a conduit between private money investors and borrowers seeking funds for real estate projects such as rehabs, bridge loans, commercial lending, land loans, and more.
