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Sean is a real estate investor and hard money lender based in the San Francisco Bay Area and invests in single-family renovations as well as out-of-state investments in Jacksonville, Florida. He is the host of “The Everything Real Estate Investing Show,” where he interviews top investors and professionals (agents, architects, contractors, and inspectors) to shed light on what they do, and how to help investors succeed in the industry. Sean hosts local meetups in the South Bay, produces real estate-related videos, and consistently reports on local real estate news. Sean focuses his time on providing value and guidance to newer investors to give them a boost in their real estate investing journeys.
Sean joins me today to talk about Hard Money Loans and what sets them apart from borrowing from a bank or a private loan. Sean explains why a real estate investor would benefit from a hard money loan and the types of loans that are available. He also explains how you can qualify for these types of loans. Sean also shares some of the common mistakes he sees Rehabbers make and how to avoid them.
"What some people don't know, especially if they're brand new is that banks will actually limit the amount of loans you can get. So after your first four loans, it gets a lot harder to get your fifth loan, and after your tenth loan they will basically shut you off." –Sean Pan
This week on Fliptalk:
- The difference between Hard Money and Private Money
- Some of the regulations around Hard Money
- Why a Real Estate Investor would want to use Hard Money Lenders instead of a bank
- The types of Hard Money Loans available
- How Draw Systems work with a Hard Money Lender
- The common mistakes Sean sees Rehabbers make
- How to qualify for Hard Money Loans
- What seasoning means
Connect with Sean Pan:
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