In this video, hard money lender Beau Eckstein explains what a hard money construction loan is and how to get one.
Once you have identified a property that you want to invest in, you need to get funding, and usually lots of it. If you have plans for building or renovating any structures on the property, whether it's a house, apartment, or other type of building, you need to have readily available cash.
Generally speaking, hard money construction loans fit the bill in this instance because private money lenders are willing to lend short-term funds to a construction project with the expectation that the property will be sold shortly after completion.
Real estate investor and house flipping expert Beau Eckstein talks about the various funding methods for these types of projects.