How Much Does It Cost To Borrow Hard Money?

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Title	:	How Much Does It Cost To Borrow Hard Money?
Lasting	:	10.18
Date of publication	:
Views	:	43 rb

Hey Jerry, I followed all that was offered in this presentation at the end is the profit $23,800 because where-ever the skin (@20 ) came from had to be repaid as well? So 80k (80) was from HML , 20K (20)from skin source for the $100K needed Now backing that out of the profit, would make that $3,800? What did or am I missing by my count?
Comment from : SurCharles D

Jerry you're a flipping genius 👊🏾👊🏾
Comment from : Djcool change Offtv the world

Money math is a blast 🤣💯
Comment from : Happy Colors

What is the 8 inspections for?
Comment from : Justin Kaiser

Dude, I hope 6his changes my life I’m ready
Comment from : Mike B

How much in electric/gas, insurance/builders risk policy and water/sewer/trash costs as well over those 4 months?
Comment from : AW

Jerry, you flippin Mormon! You’re a genius! And I appreciate all your work on these videos I’m deeply grateful and thankful for your work Ps my brother went to Argentina on his mission and another brother went to Honduras on his mission ✌️
Comment from : Magical Thinking

Do you fund fix and flips yourself? I’ve got a great one under contract a few minutes ago
Comment from : Big Flip

Jerry you the GOAT 🐐
Comment from : Big Flip

Jerry, do I have to have an LLC in order for Hard money lenders to work with me ??
Comment from : Jackjack1978

If I had to put up 20K of my own cash to get fronted 100K in loan money and in the end it cost me 7700$ to make 23,800$ in 4 months My answer is No Jerry It wouldn't be worth my while to pursue that flip
Comment from : Richard Brown

Is the mortgage price incorporated in these numbers ?
Comment from : Rob Dinero

I’m about to really do this wish me luck boys
Comment from : Jxse

I appreciatethe way you break things down in your videos It makes it much easier to digest for someone with less knowledge in this area so thank you
Comment from : IDGaming

Thanks a lot, you made it all clear for me Thanks
Comment from : Elisee Ilunga

What about down payment?
Comment from : BigInvestment •

Do you have an update to this video?
Comment from : G Houston

Jerry have ever used Fund & Grow
Comment from : MSHairCandy

Thank you for the detailed information
Comment from : Ashanti Traylor

What is the profit after paying federal income tax?
Comment from : Matthew Hummel

What about the “skin in the game?” You’ll need 100k + carrying costs but only being funded 80k Or did I miss something?
Comment from : Jensen Sanders

Jerry, where would I find a hard money lender for my deal?
Comment from : AC King

How did you come up with 11,000 for the closing cost amount? I thought it was 4-6 of the purchase price?
Comment from : ArtisticallyAspiring

You make it sound so ingeniously easy peezie But I'm certain with repetition, it becomes smooth as butter
Comment from : Chris Islas

I think that we may also need to factor in the tax bill into our budget which will eat some of our profits Not 100 sure but would like to know how much that will affect our ability to do the deal or not Should we factor that into our profits?
Comment from : CULTRd

GREAT VID
Comment from : Eghosasere Idemudia

Are you speaking Greek?
Comment from : Gabriel Barros

Sorry I am kinda new to this , brIs the repairing coast already with the loan? Or is that money out of your pocket as well?
Comment from : Insima

Essentially you received 100 return on your investment 20k out of pocket and 23k return profit Great investment wont get that putting your cash in bank
Comment from : LoveLinksMusic Bratta

Great info
Comment from : HaitianCapo

Loved the breakdown Thank you 🙏🏼
Comment from : Jon Lara

My question is, if they give you a loan for $80k but you need $100 for the full project where do you get the other $20k form if you don't have it?
Comment from : Julian Beeks

You’re the goat
Comment from : Bruddah Alika

Hello, how did you come up with a purchase price of $75000 if you are supposed to be buying at 70 I keep getting a purchase price of $80,000
Comment from : vqc

Love the video but there’s some fees missing like closing cost, 6 realtor cost ($8,580) & a buyer may also want a survey ($500-800)
Comment from : Shiek Investments

I have 10,000 and i want to invest it so bad and I want to own a vacation rental thats my dream However im scared of everything and would need help meaning with everything🙄 when ya have the money and still no clue
Comment from : A

I'm so lost You spend 7g in capital plus repairs 25g 25 g in repairs out of pocket too that's where math doesn't add up
Comment from : Henry Navarrete

I finally get it thank you
Comment from : Victor Sims

Man I'm learning alot
Comment from : Anthony Simmons

Wow thanks buddy you're awesome and, the way you explained it made everything make sense
Comment from : DEFCON 2

Is that carrying cost including the “skin in the game” Ltc ?
Comment from : Aurelio Agosto

You are a Flipping Genius and a financial wizard
Comment from : Google User

So are there monthly payments on a hard money loan? And is that the $7700 from this example just divided up over the length of the loan?
Comment from : Ryan Clevenger

Thanks for the break down!
Comment from : MacKenzie Mitchell

Hi Jerry! Can you tell me: when do you pay the interest? monthly, or do you pay for it in a lump sum once the property sells?When you pay for all the other misc fees? Up front, or at the end? If you could get back to me would be much appreciated Thanks !
Comment from : TailorMadeCrypto

Where’s the video mentioned @ 5:50?
Comment from : Hunter Matson

I would pay that to make that profit! Super Jerry!!! Lol That would make a good t-shirt! Lol You are a flipping genius Buddy!
Comment from : Kenny Spade

Is hard money an option for buying a foreclosure property at auction? Would the auction allow that or does it need to be cash?
Comment from : AberrantArt

I am new to this business I will flip my first house next year! 2021
Comment from : Scotts High Intensity training

I will be doing my first flip 2021
Comment from : Scotts High Intensity training

@Jerry - since do have the cash on hand and, why don't you buy with your own cash and avoid the high interest and junk fees?
Comment from : AberrantArt

The music is that floors and decor commercial Cant escape it
Comment from : Danielle Ancira

Like if you had to rewind a couple of times of how much information he provided ! Thank you
Comment from : Clovistered

So helpful
Comment from : Jose Castillo

Where does the skin you put into the game come into play If the max LTC is 80 that mean you could only get 80k right? So where is the other 20k for the repairs coming from?
Comment from : Diego Anderson

Whats missing is the closing costs from title but either way not bad good job
Comment from : Jose Falconett

So helpful Jerry thank you!
Comment from : Luke McMullen

Question didn’t I have to put in $20,000 of my own money? So the profits would be $3800??? Thank you for the help
Comment from : Luke Stalcup

You left out the cost of the 20k (Skin in the game money) you had to come up with to cover the difference between total purchase and repairs of 100k and the 80k LTC the hard money lender was willing to lend you on this deal Private money is typically 8 to 12 So even at say 10 for 4 months that 20k would cost you a minimum of $960 in additional closing costs Assuming there are no additional fees or points your profit would be less than the $23,800 you estimated
Comment from : Live Free Or Die

So if the total capital needed is 100k (75k to purchase it and 25k in repairs) and the lender loans 80k where is the money coming from for the repairs? Is that a separate loan to do the repairs? I'm confused
Comment from : macknumber9

Does carrying cost and closing fees come out of the profit from the sale of the property? Or does that come out of pocket
Comment from : John V

So I'm assuming the next math needed to be done is capital gain taxes?
Comment from : Diante Harris

you're a good teacher!
Comment from : Loteh Okafor

is there a reason why its better to use other peoples money to fund your whole deal if you can pay for it yourself? why leave money on the table? I understand if the deal ends up being a complete bust you dont want to be out of that money, but arent you on the hook for it anyway?Also, would hard money lenders give new investors a percentage of purchase price + repairs?
Comment from : Joe Smith

Amazing channel and videos! Thank you Jerry
Comment from : rockerbellas

Your net profit of 23k gets taxed at like 35 right?
Comment from : Ricardo Sanchez

For a beginner, this was gold!✅
Comment from : Realtor Dee Closes

Best video, I've seen on topic so far!
Comment from : Yvesmark Chery

I just started watching your YouTube videos and already love the content you're putting out man, now the 7,700 in total carrying costs is mostly from the mortgage payments and utilities you are paying when doing renovations on the property correct? Thanks for the videos it's helping me tremendously
Comment from : tj kirkland

I've had this question for a while: do I already have to have the property under contract be able to apply for a Hard money loan? How does that work with putting the contract together?
Comment from : Reina Blocker

Great video Jerry I went ahead and purchased flippster per you're recommendation I got the prime level Its awesome Although, it does not show the equity of the leads I'm pulling I'm in California Showing the equity one of the most important features that I am interested in Is there something that can be done about that?brEJ
Comment from : EJ howard

Great info, but how can I find those hard money lenders?
Comment from : Shah Habibi

Yes i would
Comment from : BlueDreamxTV

I was just getting general information and this was the 3rd video i watched and all i needed to subscribe Thanks for such an informative video and i wish you nothing but success!
Comment from : Kenyatta Heathe

Genius
Comment from : Brynn Bradley

Good information, thank you
Comment from : Matthew Fields

?
Comment from : Charles Hayes

I know this isn’t rocket sciencebrSo I find a private lender For 20 percent that covers closing cost as wellbr Take 20 percent to the hard money loan which gives me 100 percentand I cover monthly fees until house is sold?
Comment from : Charles Hayes

This is what I love about your channel Jerrythanks!
Comment from : Don Taylor

YES I would in a heartbeat!!
Comment from : Dj Curt Nice

Best video to break down Hard Money !!! Finally !!!
Comment from : Joshua Davis

Absolutely I would spend $7,700 to make 23,000 Jerry I wish I could talk to you on the phone or face-to-face
Comment from : Joseph Walter

I get the part about getting the hard money to lend you up to 80 Here is the problem, when you go for private money to fund the rest of your deal They want you to pay closing cost for the same property the hard money want you to pay them How do you get around this? (thats the part you did not explain)
Comment from : Yeshua

How do you know how many draws you will have on a rehab?
Comment from : Altair

Thanks we I needed to know about the math of making a good deal! I like to know where I'm going before I jump off a cliff, so I can make sure I have some padding for the unexpected!
Comment from : Charlotte Barnes

Hey Jerry, brI'm just getting into RE investing and your content has been very helpfulbrbr1 I just want to be clear on what you mean by "turn-around" term in relation to the LTCbrDoes it mean once you're done with the rehab, and the property is ready to be put on the market for sale or for renting out, that's when the turn-around term stops?brbrbr2 When is the flipper expected to pay the lender?
Comment from : M