How To Start A Hard Money Lending Fund From Scratch

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ABOUT BRIDGER PENNINGTON

Bridger Pennington is the founder of 2 investment funds that have done over 217 deals in the last 4 years. Additionally, he currently manages an 8 figure hedge fund Ugly Unicorn and is a strategic advisor to 8 portfolio funds.

He has started helping others launch their own funds through Fund Launch, an online program with over 60,000 students designed to help them start investment funds without working on Wall Street or having an Ivy League degree. Last year they launched 130 student funds, and have 12 student funds over $100 million.

Bridger has spoken on stage to thousands of people across the United States and is determined to help entrepreneurs scale their businesses through launching their own funds.

DISCLAIMER: This is NOT financial or legal advice. Fund Launch’s experiences with using a fund strategy are unique to them. You should not consume this content with the expectation that you will have similar or the same results. All fund projects are subject to multiple variables and risks that make it impossible to predict success. Since we cannot predict success or provide you with information on what an average customer experience is by creating a fund, you should assume you will not have the same type of success or any success at all. We encourage you to seek out advice from other qualified professionals for advice on setting up your particular fund.

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[bridger_pennington]

Who wants to start a hard money lending fund?

[manuelmarine]

great insight bro! i will say though, at least in miami, not a single hard money lender will take 2nd position.

[stanislavdidenko]

I was searching for basics of HML to become a flipper. It was truly great to get an insight from the lander's prospective, only now I have realized the logic behind 80% LTV and 1st right to be paid.

[jeffbechtold]

Bridger most hard money real estate loans are in 1st position not a 2nd lien position. 2nd lien position is a bad place to be. Also hard money loans are typically higher leverage loans and take into account the ARV, LTC, and also includes the money to finance in most of the renovation costs. I understand that you are making this very basic and there are many more advantages with hard money loans. It should be noted that the lending side and getting set up to actually lend hard money once you start the fund is a whole other project.

[TheBestOnMarz]

Bridges is a great educator on how to start real estate funds but as a person that has used hard money in the past on real estate projects and currently have a hard money loan on a project I HATE this skin in the game tactic new hard money lenders are going with. listen I understand Its a protection mechanism for the lender but I love my current lender that gives 100% of 65% of the ARV, they do an appraisal based on the market and lend %65 on that, theres some limitations to the rehab cost but an example is: you have a 40k purchase and 25k rehab budget, and the ARV is 100k the HML will lend the whole project and only take 3 points. Now the interest rate is high af at 12% BUT its 0 down on the loan you just got to pay closing costs. Just my lil diatribe, keep doing ya thing Bridger!

[SoulMonger]

i respect that he made you earn your own shit. could you interview him sometime to discuss his views on that side of parenting?

[KevinSmith-ozoz]

Should I create an LlC for lending. With that being said, am I paying short term Capital agains on returns. Obviously I’m new to this, and would like to start off the correct way.

[NickRuiz]

So if I raise capital from multiple investors, that exceeds the loan amounts to deploy at the moment, do I use the funds pro rata that I’ve raised so EVERY investor has exposure to EVERY single loan? I hope you understand what I’m asking. Thx

[ToleXMusic]

dude I’m not on the level of knowledge you spilled here.
However, I have to commend your skill.
You are a presenter

[germanarturo]

Worked in the past in a business loan company, i would like yo start my own office doing the same now. Do you have a list of lenders? Do you have any service like website or i need to build my own?

[casualbynature]

Great vid Bridger thanks for sharing mate

[Jonathan.Killam]

The real fun is when you realize you can get gap funding to cover the "skin in the game".

[jamesdupuis]

When do you place a lien on the property? Immediately upon lending or do you wait until if and when the first payment is late?

[kadenhart_]

Lending is where its at! Cool to hear this is how you got your start

[rftghyjukiol]

Hello and thank you. I'm thinking about doing my first hard money lend. I do realestate but was never the BANK. What do I need, an attorney, appraiser, and title company? Who outs the actual lein on the property, the title company ? I appreciate your time

[outcoldmusic]

Do you have to be licensed to do hard money loans?

[ellenoir]

Bridger my guy MR. White board of truth and justice ⚖️

[joe-zpge]

im a hard money lender for many will a private lender be in a 2 position....everything looks good on a chalkboard but its not reality

[makefranks]

Could you raise business credit funds and then hard money lend to yourself as an investor?🤔

[bt]

Finally, a shadow bank. I been looking for you guys!