The technical definition of hard money loans is a loan that is backed by a hard asset such as a property. However, most people in real estate use this term to mean the primary loan (1st position) on a fixed & flip.

Private money is basically all money that isn’t government backed or from banks. This equates to trillions of dollars. However, some people like Pace Morby use this term to mean a much smaller definition. I’m not 100% sure how it gets used there, but sometimes I think it gets used to mean subordinate / second position money. Note: nearly all HML lenders are using private money, using the general market accepted definition.

Wholesalers span a wide range in my opinion. Some do small residential and close 1 in 10 deals, and on the other end you have wholesalers double closing $100m Multifamily assets. I’ve naturally moved away from the small residential home wholesalers that don’t close and spent more time with those targeting commercial assets.

Welcome, Connor! Jump over to the classroom and thevStart Here phase. We got your back on the how to and money parts of this, our focus is first on building relationships that drive deal flow. Jump in!

Vicki, thanks for joining and being active. This is a great community and I look forward to a lot of deals together. How May should be our goal together in 2026?

@Ben Bradley