Key Takeaways
- Hard money closes in 5-14 days; draw cycles take 5-10 business days each.
- Sale exits take 60-120 days; refinance exits depend on seasoning requirements.
- Extension provisions and backup exit strategies are essential for maturity risk management.
- Private lending triggers state licensing, usury, and Dodd-Frank compliance requirements.
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Test Your Knowledge
1.How long does a typical hard money draw cycle take from request to disbursement?
2.When should an investor begin marketing a fix-and-flip property?
3.What document exempts a hard money loan from Dodd-Frank ATR/QM rules?
4.What is the recommended approach when a fix-and-flip encounters budget overruns?