10 Comments

  1. Walter Gaines

    This is a very informative article and puts the issues in a very understandable format.

    I am considering making a hardmoney loan via an experienced hard money loan person in Washington State – not with cash but with my self-directed IRA.

    • Domenick

      Glad you found it helpful!

      I’ve thought about using an IRA but haven’t looked into it much. I know there are a lot of special rules and you need to make sure you can trust the custodian but they can be a great way to invest in RE. Good luck!

    • Domenick

      Thanks for stopping by!

      I don’t think that’s an option on the website. Sorry. Try saving it as a PDF and removing the headers and footers. If that doesn’t work, use the contact form and let me know which article you are interested in. Thanks.

  2. Laina

    I enjoyed reading your article , I have never done hard money lending but i’m looking to learn more about this…. I have $100K to work with and i’m trying to figure out a way that i can make money off this and not invest it in the stock market…. I would really like to know more on how to get started and how to find people who are looking for a hard loan, i’m thinking of loaning no more than $10K to each person…

    • Domenick

      Thanks!

      Join a local REI club. You will quickly learn who are the local players making the most deals. They will be looking for money all the time. That said, you probably won’t get too many interested in a $10k loan because it’s not enough to do a deal. Also, you want to work one on one with an investor. You want to avoid having too many other people involved in your deal.

      You might want to check out crowdsourcing REI funds. Here’s a good review of Fundrise from IdealREI. You can start investing for very little cash but the fees will eat into your returns. Either way, do your due diligence before you invest. Understand how you are secured in your investment (if at all)! Good luck!

    • Eric

      Hello Laina!

      What city are you in? I live in Indianapolis and our housing market is booming. Many are moving out of IL and moving to IN as our cost of living is far more reasonable than what IL is doing to their people. I’d love to chat. Eric@zeedykremodeling.com

    • Domenick

      Great question! This is a complicated area and depends on where you live, what types of loans, etc. I suggest talking with a local established HML and attorney who specializes in this area to get the best advice.

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