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Hard Money Loans vs. Soft Money Loans | When to Use Each

  Рет қаралды 25,994

BiggerPockets

BiggerPockets

Күн бұрын

Пікірлер: 54
@ProjectRE
@ProjectRE 2 жыл бұрын
So much fun shooting this w/ Ashley Kehr!! Hope you guys enjoy this new video! 🙏
@robertcarrillo8893
@robertcarrillo8893 2 жыл бұрын
I learned a few new things regarding Hard and soft. I usually use my own money. good to have in my back pocket for future deals. Thank You.
@ProjectRE
@ProjectRE 2 жыл бұрын
If you can self fund it def reduces risk (good in this market), Leverage increases profitability.
@2percenter
@2percenter 2 жыл бұрын
Great breakdown and visual to help understand the basics.
@onthehouserealestateinvest6230
@onthehouserealestateinvest6230 2 жыл бұрын
It also depends on the competition level that you have on a given deal. Most of the time, due to the competition on a home, you must be able to offer a fast closing date. A hard money loan can close in as fast as 48 hours. A Fix n Flip loan can take 2-4 weeks. If your competition is using hard money or cash, you either have to close as fast or pay more. I broker these all the time, I use Intrust Funding on many deals and other hard money on other deals. It depends on the deal, location, deal structure and what unique details of the loan or property as to my decision of where I will broker the loan.
@ProjectRE
@ProjectRE 2 жыл бұрын
100 agree!!!!
@guyharris2136
@guyharris2136 Жыл бұрын
Awesome. Just put a house under contract with a wholesaler. Did not have financing in place. Less than 30 days to close. Very helpful video!
@PracticallyPoshLife
@PracticallyPoshLife 2 жыл бұрын
Great information! Very helpful video
@ProjectRE
@ProjectRE 2 жыл бұрын
Thank you :)
@luztv101
@luztv101 2 жыл бұрын
Really well explained. Thank you 🙏❤️
@ProjectRE
@ProjectRE 2 жыл бұрын
Thank you!
@rifleman42051
@rifleman42051 2 жыл бұрын
Dam this was very informative!!! Thank you for this upload!!!
@ProjectRE
@ProjectRE 2 жыл бұрын
Thank you!!!
@rifleman42051
@rifleman42051 2 жыл бұрын
@@ProjectRE You're Welcome :)
@CynthiaCole
@CynthiaCole 2 жыл бұрын
Another great informative video! Thanks for sharing all your knowledge with us!
@ProjectRE
@ProjectRE 2 жыл бұрын
More to come!
@blakehenderson6689
@blakehenderson6689 2 жыл бұрын
Im a bit of a rookie, can someone explain further why its advantageous to waive the finance contingency in his example at the end?
@blakehenderson6689
@blakehenderson6689 2 жыл бұрын
Great video btw, i didn't know soft money was a term!
@ProjectRE
@ProjectRE 2 жыл бұрын
Makes your offer strong to the seller!
@livekenora
@livekenora 2 жыл бұрын
Your intro is Gold!
@Je.rone_
@Je.rone_ 2 жыл бұрын
great video !
@ProjectRE
@ProjectRE 2 жыл бұрын
Thanks!
@TheMFStudios
@TheMFStudios 2 жыл бұрын
What do you do if you don't have any experience? How do you still get hard money funding?
@ProjectRE
@ProjectRE 2 жыл бұрын
Capital. Lenders may ask for a higher down payment x you could also bring in a partner to assist.
@yousufsharifi7747
@yousufsharifi7747 2 жыл бұрын
If I want to do the brrr method and pay all cash to buy. How long do I have to wait to do a cash out refinance and how many times can I do a cash out refinance (assuming different properties) can I do a year?
@Woodshadow
@Woodshadow 2 жыл бұрын
I wouldn't try and coin the term soft money here. That is going to get confusing with Soft Debt. I work in the affordable housing space and we have something called Soft Debt. This is debt usually from The City or The State and it is paid back on a cashflow dependent basis. It usually accrues 1% a year and if there is cashflow left over at the end of the year we will use it to pay down the soft debt. Often times we won't have to pay anything back for 5, 10 even 25 years.
@InvestAndGrow2020
@InvestAndGrow2020 2 жыл бұрын
I use loud money.
@ProjectRE
@ProjectRE 2 жыл бұрын
Whatever gets a deal done!
@luzhou8389
@luzhou8389 2 жыл бұрын
Thank you for providing this helpful information
@ProjectRE
@ProjectRE 2 жыл бұрын
Thanks lu!!!!
@Jamminn555
@Jamminn555 2 жыл бұрын
Fantastic interviewing by Ashley, fantastic insights by James.
@ProjectRE
@ProjectRE 2 жыл бұрын
Thanks 🙏🏻
@CJinsoo
@CJinsoo 2 жыл бұрын
informative-excellent!
@ProjectRE
@ProjectRE 2 жыл бұрын
Thanks!
@sbr4649
@sbr4649 Жыл бұрын
fix audio levels please
@LordBlackNephew
@LordBlackNephew 2 жыл бұрын
Cool BX STAND UP!!!
@ProjectRE
@ProjectRE 2 жыл бұрын
😎
@jg-dv1ul
@jg-dv1ul 2 жыл бұрын
Good information, poor audio quality. Please adjust
@ProjectRE
@ProjectRE 2 жыл бұрын
Fixed!
@pgbollwerk
@pgbollwerk 2 жыл бұрын
Please invest in some better microphones =)
@ProjectRE
@ProjectRE 2 жыл бұрын
Fixed :)
@mrmatthews5202
@mrmatthews5202 2 жыл бұрын
Came to comments to make sure it wasn't just me. Thank you.
@InvestAndGrow2020
@InvestAndGrow2020 2 жыл бұрын
Guys it’s all money at the end of the day. Just use it.
@ProjectRE
@ProjectRE 2 жыл бұрын
💯
@melhayes204
@melhayes204 2 жыл бұрын
Soft money just sounds like a normal bank loan.
@ProjectRE
@ProjectRE 2 жыл бұрын
💯 banks hiding in the hard money space 👀
@bldfinancial
@bldfinancial 2 жыл бұрын
🔥🔥🔥
@ProjectRE
@ProjectRE 2 жыл бұрын
Thanks!
@jaysusr
@jaysusr 2 жыл бұрын
Smegma? I see what you did there…
@ProjectRE
@ProjectRE 2 жыл бұрын
😂 we run into it all!
@InvestAndGrow2020
@InvestAndGrow2020 2 жыл бұрын
And drug money.
@ProjectRE
@ProjectRE 2 жыл бұрын
That might cause other types of problems…
@ZacharyBuhler
@ZacharyBuhler 2 жыл бұрын
What makes money hard? (When it goes to the strip club) skaboosh
@ProjectRE
@ProjectRE 2 жыл бұрын
😂
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