Here are few tip which should help you:

1. The total cost of credit

Ask your lender about their appearance fees and processing fees, as well as the names and deposit charges. Request a good faith estimate. Hard money lenders are not regulated in such a way that traditional mortgage lenders are. Expect that their fees are significantly higher from two to ten points in the appearance alone. Please note that all payments are negotiable.

2. Negotiate prepayment penalty

If you're flipping, you need a loan for a few months until resale. Request warranty instead of the interest payment penalty. Interest Guarantee differs from the standard prepayment penalty that the lender will collect a certain amount per cent means that they will come to you, regardless of when the loan is repaid. A typical prepayment penalty of one to three years, so if you repay the loan before the expiration of prepayment penalty, you must pay is roughly equal to six months interest on the loan amount as a penalty.

3. The request was not out of pocket investment

This is exactly what it says: you do not put anything out of pocket to close the loan. All you can do is ask. It will be possible to make the lender somewhat uncomfortable, even though he or she may be inclined to reject cash investment after the loan is approved is largely based on the after repair value of your property. Most lenders want to have enough funds to cover the cost of repairs, closing costs and overheads. They expect the borrowers to pay credit charges or before the closing of Escrow.

4. Request for money for repairs

You can receive a draw for repairs. Most lenders will require the completion of invoices from contractors and subcontractors before work. Draws are usually allocated as soon as a tour of completed work.

5. Request for deferred interest

Some lenders will consider deferring interest payments until full repayment of the loan. This is usually only offer short-term loans with maturities of less than six months. For longer-term loans, the lender may have to defer interest for a period of rehabilitation. Again, ask for what you want is an important part of this process.