Using hard money for my first investment ?

[William Dolinko]

Trying to figure out if it is a good idea to use hard money for my first investment or use FHA first time home buyer loan?

[Michael Kistner]

@William Dolinko

   If this is your first deal overall I'd use an fha loan, 3.5% down on a multifamily if there's one available in your area.

   Hard money is a great tool but you need to be careful or you could end up paying a lot of interest. They typically loan money for 10-14% interest.

   Get a mf, use little money to get in, get some experience managing the property and fix it up, get some forced appreciation, tax benefits, and you'll be ready for that next deal in no time!

- Mike