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Pulled a $12k hard money loan at 14% to flip a roof in Cleveland and the lender tacked on a $900 'doc fee' at closing
Three weeks ago I closed on a duplex near Slavic Village and the whole point was a quick 6 month flip, so I went hard money instead of waiting on a bank. The guy slid a fee sheet across the table at the last second and said the 14% was 'just the rate' like I should've known there was more. Is this normal for hard money or did I just get worked over at the table?
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