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Updated over 7 years ago, 09/09/2017

User Stats

105
Posts
25
Votes
Alejandro Flores
  • Investor
  • Pasadena, TX
25
Votes |
105
Posts

Hard money vs Business Line of credit

Alejandro Flores
  • Investor
  • Pasadena, TX
Posted

If you would buy a property to flip and fix which would you use? Hard money or Business Line of Credit?

I ask this question since I and my father are looking to find a property to fix and flip. My father owns a Nail Supply store and has not opened a Business line of credit. He has 700+ credit score on the business. 

I use marketing to find my deals and I have wholesaled a deal before but I want to fix and flip. Would it be cheaper and faster to use a business line of credit then hard-money? Hard-money our rate would be 12-15%, we have 20-30k to invest. 

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