How To Buy A House With No Money Down (Hard Money Loans)

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Title	:	How To Buy A House With No Money Down (Hard Money Loans)
Lasting	:	0.55
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Views	:	17 rb

Bro don’t influence people with bullshit, it’s all fake hml or pml will cover 80-90 but that’s it YouTube is now full of crap prior and fake knowledge just to get views
Comment from : yashraj singh

For those who don't understand, it's not your fault He is essentially just reading something off the internet and is a terrible teacher brbrHard money loans are almost always worse than subprime mortgages (which is what caused the housing market crash) If you want to know roughly the interest rates, look up current mortgage or car loan interest rates and multiply that by 5brbrHere are the basics:br1) Hard money loans (HMLs) are almot always very bad for the person getting the loan (ie you) Almost every financially savy investor will tell you to never take one or only take one a last resortbrbr2) The majority of the time HMLs come from businesses or individuals and not from banks It's essentially like a legal losn sharkbrbr3) HMLs can be used for things other than homes, but whatever you buy is basically use as collateral The loan amount and time frame to repay is based on the value of what you buy and NOT your credit or financial standing This is why it's called 'hard money' since it's backed by something physical (car, house, etc) that can be sold guy cash at any point brbr4) Almost anyone with good credit would not take a HML because they will get a much much better interest rate from most, if not all, other types of loans Further, part of reason why HMLs have stupid high interest rates and fees is because primarily, if not entirely, people who apply gor HMLs have bad credit Thus, it's a huge risk to the lender They know it's a risk and they know this is you last resort (or they know you are an idiot) so they can basically charge you whatever crazy high rate and fees the want brbr5) The time to pay back HMLs almost always much much shorter than any other loanbrbr6) You are almost guaranteed to ultimately lose money The only people I've ever heard of making any profit are people who can flip a house and sell it before the first loan payment is due (usually 2 weeks or 4 weeks) But you wont get money to renovate, inspect, remodel, etc from an HML, so uou better have a good amount of cash ready and know what you are doingbrbrBut if you had a good amount of cash and knew what you were doingyou probably wouldn't have been watching this video
Comment from : Dr Matthew Hudson

Not true u have to use your own money to get the hard money lenders money
Comment from : Bite Force kennels

No hard money out here that don't require 15 - 20 down
Comment from : UNIVERSAL PRODUCTIONS, LLC

The interest rate is going up to 12 percent and you can't refinance out of it
Comment from : vithaya phetphanh

Money is money len!
Comment from : jonas johansson

COMPLETE BS! STAY AWAY FROM HARD MONEY LOANS!!!!
Comment from : CONFIDENTIAL PRIVATEUSA

You have to pay these loans back right away
Comment from : Miss desire Independance

Can anyone please explain to me more about how the monthly "interest payments" work on a hard money loan?brIf the example is 10 interest and the loan is to be paid full in 12 mos, say for the amount of 200K brIs the total amount of the interest 20K, and you pay 1/12th of that each mo? (About $1,666?) Or do you literally pay 20K per mo?br I would REALLY greatly appreciate anyone explaining this to me please I haven't found a video that is clear enough on this exact point yet Thanks so much!
Comment from : shirley tyree