how much do hard money lenders make
Asked: 2018-06-13 15:02:24
I was thinking of getting into hard money lending and wondering what the fees are like and how much you can earn from it?
Answered: 2018-06-15 12:53:13
It depends on how many investors you have and the rates. Rates normally start around 7 or 8% but they can go as high as 18%, so it just depends how much you’re prepared to lend.
Answered: 2018-06-14 19:14:06
It can be quite a good little earner, for instance if you lend someone with reasonably bad credit $100,000 at 12%, you’ll be making $1000 monthly.
Answered: 2018-06-15 05:14:14
You make money off the documentation, such as underwriting and notary services. Then you can make money off the loans, as the percentages are quite high. How much you earn is directly related to how much you invest.
Answered: 2018-06-14 07:40:51