I'm excited to announce our next guest speaker. Brenda Chen, Head of Sales at Conventus Lending, will be sharing her knowledge about hard money loans and how they can be used to fund your next project! I used them back in 2019 for one of my first rehabs in Philly, and it was such a smooth process. Brenda was actually my loan officer :)

A bit about Conventus.... based in SF, they are a hard money lender that provides financing for the purchase, renovation and rental of single and multi-family residential real estate. Their clients are primarily real estate developers who are funding fix & flip renovations or BRRRR projects. Unlike bank financing that may take 30 days to close, Conventus can close on a much quicker timeline and can be a great short-term financing option (ie. you'll want to have a plan to refinance out at some point).

Here are some of the topics we'll cover:
-What is hard money and how is it different than traditional financing from a bank?
-How does one qualify for a HML? Have lending guidelines changed in the last 6-12 months?
-What are the typical terms for hard money loans (eg. interest rate, payback period, etc.)?
-Where does Conventus lend and what type of projects qualify?

With love and purpose,
Cliff
909.575.9101
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0:00 Introduction
5:29 About Brenda
7:20 What is Hard Money?
11:58 Why Hard Money?
15:48 Who is Hard Money for?
18:13 Who is Hard Money not for?
18:55 Obtaining Hard Money Loan
26:34 Construction Loan
27:22 Signing Loan Documents
28:46 Loan Amount
30:50 Cost (Points and Rates)
37:44 How to Get the best rates
38:30 Loan Terms
40:34 About Conventus
44:15 Questions

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