Enough Cash
Reserves
You need to prove your financial strength and show that you can repay your loan every month. The more cash you have, the more likely it is for you to get approved.
Equity or Down
Payment
For commercial properties, a hard money lender for real estate investors in Dallas would typically require a minimum down payment of 30% to 40%. Of course, the more significant the down payment or equity, the lower the risk for the lender—and the better your chances of getting approved.
An Exit Strategy & Experience in Real Estate
A hard money lender is more likely to trust someone experienced in commercial properties. If you lack experience, you should be ready to disclose the property’s details and your project and show a solid exit strategy to reassure the hard money lender from Dallas.
