New to Investing -Orlando FL

[Deborah Richards]

Hello !

I am currently a homeowner and am thinking about refinancing with a cash out of $50k to be used towards purchasing a rental property. I have been doing a lot of reading, joined my local Real Estate Investors Association and getting as much education as possible. I have been hearing differing opinions on financing.. my question is.. which would be better a conventional loan or form an LLC and use hard money? I plan to purchase below market but in doing so may need funds for rehab which i dont have. I dont want to get into heavy rehab so will be looking for a property that is need of cosmetic repairs. I have heard some say to form an LLC to keep separate and limit personal liability. I know that hard money interest rates are higher that conventional.. I am forming a step by step plan and not sure how to proceed. Any feedback would be appreciated!

Thank you