Conventional loan vs Hard Money Lender Qusetion

[Jonathan Alindayu]

Hello all - i am a "Newbie" to real estate investing and have a couple question about Conventional Loan vs Hard Money Lender. Also, what are the pros & cons between the two. Originally, I was planning on Buy & Hold. But I am now leaning toward rehabbing/flipping property in my area in the near future and wanted to know if someone can share some knowledge in regards to funding my future project.

First, I do have a pretty good credit and can put down 20% down payment for a Conventional Loan? is it possible to use this type of loan for Rehabbing/Flipping. Will the Bank also loan funds for the rehab cost?

Secondly, looking into Hard Money lender seems to be the theme/used by others investors here. But it is costly, as far as rate goes. I assuming this is the way to go?

Thanks in advance,

Jonathan