On today’s episode, Robert Leonard chats with Sean Pan to talk about what hard money is, the approval process of such loans, its difference from traditional financing, its common fees, and red flags to avoid in a potential lender, and much, much more. Sean Pan is a real estate investor and hard money lender based in the San Francisco Bay Area. He invests in single-family renovations as well as out of state rental properties. He is the host of “The Everything Real Estate Investing Show,” where he interviews the top investors in the area and hosts a meetup group with over 2300 members. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 05:15 - What hard money is  06:39 - What the process of being approved for a hard money loan is like and how it differs from traditional financing 09:46 - What types of situations are right for using hard money loans 10:59 - What the common fees associated with hard money are and why it can be an expensive option for financing 13:18 - Downsides to using hard money loans 18:05 - Are newer investors right for hard money loans or is it only for experienced investors 20:06 - Flexibility in hard money loans 23:19 - Where Sean thinks the dynamic between real estate and capital markets is right now  26:55 - What the most important things to look out for when getting a hard money loan and the major red flags to avoid in a potential lender 31:04 - What the benefits of investing out of state are 32:48 - How to find markets to invest in and what to look for exactly 34:37 - What the hardest part about investing long-distance is ✔️ Subscribe to Real Estate 101 podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/real-estate-101/hard-money-loans-masterclass/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.