hard money loans

[Elias Meek]

Starting journey and have posted about this topic before. Will be going the route of using a hard money loan to finance first flip. Wanting to know some pros and cons of going this route and experiences. What is worse case scenario if house sits on market to long and what all can i intend on being out of pocket. The way i understood was the only money that i would be out would be at closing and utilities once property is under contrat.. is this true? just wanting to know all that i can before taking my leap and it turning into and flop..

Thanks...