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76
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27
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Erik Schneider
  • Flipper/Rehabber
  • Henderson, NV
27
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76
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Using my money or a hard money lender?

Erik Schneider
  • Flipper/Rehabber
  • Henderson, NV
Posted

I recently decided that Id like to start Fix/Flipping in Las Vegas area. I sold my CA SFH and my AZ Investment property which netted me about 250k. Should I use my own money to start purchasing and rehabbing or a hard money lender? Any advice is great advice at this point.

What do you think?

Thanks in advance

Most Popular Reply

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3,926
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Jason D.
  • Rental Property Investor
  • St. Petersburg, FL
4,386
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3,926
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Jason D.
  • Rental Property Investor
  • St. Petersburg, FL
Replied
@Erik Schneider I'll counter point and say, use hard money. Think of it this way... you find a great deal, use your own money, then realize that you made a $30k error, and it's now a bad deal that you'll lose money on. There was no one to say "what about this?". With a hard money lender, you have someone else, and likely a team of people looking at the deal, making sure it makes sense. They won't lend you money unless they agree with you that it's a good deal. I would like the second and third set of eyes on my deals, especially until I have more experience.

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