Using my money or a hard money lender?
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
@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.