Hard money lenders are individuals or organizations that provide financing to borrowers who may not qualify for traditional financing from banks or other financial institutions. These lenders typically provide financing for real estate investments or business ventures and do not typically get involved in the day-to-day management of the project.
If you are using a hard money loan to finance a house flipping project, it is unlikely that your hard money lender will help on site with the flip. Most hard money lenders do not offer hands-on assistance with the renovation or management of the property.
However, your hard money lender may be able to provide guidance or recommendations on managing the project and may be willing to work with you to create a customized repayment plan that fits your needs. It's a good idea to communicate with your lender and keep them informed about the progress of the project to ensure that you are meeting the terms of the loan.
It's important to note that hard money loans can be more expensive than traditional financing options and may not be suitable for everyone. It's always a good idea to carefully consider your options and weigh the pros and cons before committing to a hard money loan.
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