Hard Money Lending - Rental Property

[Bruny C.]

Hello,

I’m thinking of getting hard money to finance a real estate deal (Purchase - Rehab - Rent).

It’s not a flip, it will be a rental property.

I understand the interest rate is higher so more money to service the loan compared to a conventional loan.

Is it a good idea to use hard money lending for rental investment properties if the numbers make sense?

Your advise/comment is appreciated.

Thanks,

[Joseph A.]

@Bruny C. I'm currently in the process of using this strategy to aquire properties. I will use the hard money to purchase and rehab the property. Then I will get the property rented and refinance the property with a conventional mortgage. I just make sure the numbers work for me and I'm super conservative with all of my numbers. You should know what lender you want to refinance with and what's their criteria.