My uncle's blanket advice on hard money loans actually saved me $4k last month
So my uncle Rich, who flips houses in Cleveland, kept telling me to always ask for a 6 month extension clause in any hard money deal, even if I thought I'd close early. I figured he was just being old school and ignored it on my first bridge loan. Sure enough, the appraisal came back low, the buyer backed out, and my 4 month term was up with zero options. Called him in a panic, he walked me through negotiating a 2 week forbearance with my lender in exchange for a higher rate. Has anyone else gotten out of a jam like that with a family member's random tip?