My financing strategy

[Todd S.]

I wanted to get the community's thoughts on my financing strategy. It is as follows: -Getting a $25,000 home equity loan through credit union. -$25,000 loan will be used for money down on hard money loan. -Hard money loan terms are 12% plus 4 points. Requiring 10% down. -Hard money lender will loan 70% ARV. -Hard money loan will fund acquisition and rehab costs. This is my plan to get the ball rolling on my quest to be my own boss and become a full time investor. Got to start somewhere!!!!