What is the difference between hard money loan and private money loan?

I’m curious, what is everybody’s experience so far with wholesalers? Are the deals being brought to you any good? Are they able to find a buyer and close?

✍️ Let me know what you think; what you would remove; what you would add; etc etc. ❓ 👉 Who wants this? 💥

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So if I am lending $2000 EMD, I need to charge him $500 upfront + another 20% ($400) at close so I need $2900 coming back before I even add my fee?