To many people, the term hard money lender usually evokes thoughts of big, sleazy, overcoat-clad men carrying baseball bats. Today however, the hard money lender is a professional investor who fills a much-needed gap that conventional lenders balk at. And though their rates and fees are high (even exorbitant at times), many real estate speculators and investors would not be able to operate in the market without them. But beware: hard money loans are designed to be short-term, high-cost instruments; temporary quick fixes and not long-term solutions. Great care and consideration must be applied when using this type of funding.