Aggressive Hard Money Lenders Revealed

President of Pitbull Mortgage School, the largest organization in the country teaching hard money to mortgage brokers and hard money lenders, Leonard Rosen was previously the CEO of a large medical group with 6 clinics. Also the former anchor of Financial News Network and host of the Leonard Rosen Show.
There is an old story that says "never trust a man in a big hat that has no cattle". I think there is a lot of truth in this statement when referring to equity based lenders. With the explosion in the foreclosure market and declining real estate values, it seems that every lender I know of is getting into the hard money business.

The basic model and premise that many hard money lenders operate under is that for every 100 loans that come over my their desk, only 1% ever get funded. We see large ads in industry publications with promises to fund your non-conforming loan. The truth is that most loans never get funded by these so called big shots. In addition, many of these so called hard money lenders string along the loan officer or mortgage broker while their client waits patiently with no end in sight.

i operate the largest mortgage school in the country specializing in teaching hard money to industry professionals from coast to coast. Having said that, I also disclose the "real" hard money lenders who are aggressive and have the financial backing to source the loan.

The first thing I do is thoroughly check out the company and its principles. I have found several ways to qualify a hard money lender's reputation. In addition to the traditional methods such as pulling a Dun and Bradstreet report, I actually call their competition and ask some very pointed questions.

You would be surprised at some of the responses I receive. At the end of the day, the truth generally comes out. If the lender has a good reputation in the industry and their track record is good with the regularly agencies, I generally place them on our preferred list of investors. Obviously, there is no assurance a particular loan will get funded. I have found that many small boutiques lenders have proven to be very aggressive in their business approach.

Entering the world of hard money can be somewhat tricky, but there is plenty of opportunity to earn a substantial income with the right industry contacts on your side.

About the Author

President of Pitbull Mortgage School, the largest organization in the country teaching hard money to mortgage brokers and hard money lenders, Leonard Rosen was previously the CEO of a large medical group with 6 clinics. Also the former anchor of Financial News Network and host of the Leonard Rosen Show.