How to evaluate if using Hard money for a deal is best?

[Alejandra D.]

Hi! I am new to the Real estate investing world, and have recently joined a service that sends me deals that have been analyzed for a fix and flip investment. I have Money saved, but I would like to avoid using it if I can, so I have looked into Hard money lenders as the quickest option, I would like help evaluating if it makes sense to use that route of financing. 

The deal im looking at asking price is $50,000 Rehab estimate is about $60,000 and the ARV on the Property would be $155,000. With hard money im looking to having to put 20% down payment with a 10-11% rates and 2-3 points