Hard Money question

[Oliver B.]

Actively looking for our first flip deal in SoCal....

Target buy price is up to $500k or so; we have cash on hand to put about 50% down and fund the rehab, so just need money to cover roughly 50% of our purchase price...or we put minimal $ down (say 30%?) and finance the other 70% w a hard money lender.

Thus far, it looks like most hard money lenders are charging between 4 and 10 points...wondering if others have had any luck in getting lower points...If points are non=negotiable, I'd likely borrow the minimum and use my cash on hand to keep financing costs in check.

Other items to note include we have excellent credit and have a large amount of equity in our home of 10+ years. We are looking to transition from our current jobs to flipping over the course of the next year or so.

Thanks!