Hard Money Lending for Beginners?

[Dalyn Hazell]

I've read some material that says starting out with Hard Money is not a good idea. Does anyone know why this is? My main strategy will be BRRRR and I plan to incorporate hard money into my financing.

Thanks for your input!

[Cameron Tope]

Dalyn,

Hard money is not a solid long term strategy as it's expensive but it's not a bad idea when starting out. 

Solid hard money lenders will vet your deal and have a business of lending money so you have some assurance knowing they'll close. 

I started out using hard money then after doing 5 deals I had a track record to attract reputable private money lenders. 

If you end up going with private money to start make sure you talk to a few people that have done business with them, as having a unprofessional or new PML can result in a lot of headaches. 

Hope that helps!