If you’re a property fix and flip specialist, a builder, a property investor, or a landlord, your first stop for getting a loan to fund your various projects was probably a bank or credit union. While this is a great option for those with perfect credit and no questionable employment history, it’s not always the best option, and I’m sure you’ve probably had a little trouble out of them.

If you’ve found yourself in such a predicament, a hard money lender may be your best bet, and if you’ve never considered this option before or gotten a loan of this nature prior, finding one can be a bit difficult. Knowing what qualities constitute a good hard money lending company can help substantially narrow down your options, and help you find the company that’s right for you. A good hard money lender should be:

Organized And Reliable

Can they answer all the questions you have for the nature of their loans and their processes? Each hard money loan they process has a detailed, step-by-step process to go along with it, and a good hard money lender will be organized in order to finish the deal as quickly and efficiently as possible for both you and them, respectfully. In addition, reliability is important both for the sake of your reputation as well as theirs; if you choose a lender that can keep the promises they make to you, and stick to the deal based on the contract, your reputation will be very positively affected, so choose carefully.


How long have they been in business? Do they specialize in the type of loan you’re looking for? In general, it is best to avoid lenders who claim to handle all types of loans unless they have a well-rounded reputation for doing so. This is because companies who take on too much may not have all the knowledge necessary to handle the specific, complex origination and servicing regulations to get the best loan possible for you. A good hard money lender will be as transparent as possible with you regarding the terms, regulations, and options available to you, and should be able to provide guidance to ensure a win/win scenario for all involved.


Are they attentive and responsive to your needs? A good hard money lender will be able to act as a second pair of eyes and ears when going over documentation, agreements with contractors, and property value. In essence, you should be able to trust them as an invaluable asset to your property plan, not just as your lender. They should be able to close the deal quickly, accurately, and also provide advice on how the deal or deals are best handled in order to get the best value out of the deal.