I used a hard money lender for a flip in Phoenix versus a traditional fix and flip loan, and the difference was huge.

3 comments

3 Comments

You mentioned the difference being huge. I mean, a big thing people miss is how the lender's own experience with local contractors can make or break you. A hard money guy who knows Phoenix might have a short list of plumbers who won't ghost you for two weeks. That saved timeline on a flip is way more important than just the loan rate. Idk, maybe it's just me but having someone who knows which neighborhoods are tough for permits is a hidden benefit.

umathompson18d ago

Yeah, @andrew_rodriguez, how do you even find a lender like that?

henrycooper18d ago

Totally agree with @umathompson, finding that person is the real trick. I got lucky with my last project because my realtor knew a local lender who only works on fixer uppers. That guy had a list of contractors he'd text for me, and they actually showed up because they wanted his future business. The local knowledge about which inspectors are strict saved me a ton of headache too. It's all about asking your network for someone with boots on the ground, not just a low rate online.