Should I use hard money??

[Yosef Fares]

I have been trying to lock up a deal for a month now using a rehab loan with 20% down. I have gotten beat out by cash offers on every offer i have submitted. I am now thinking about using a hard money lender. Is this smart to do with just one property? Or should I look for something else to fund my first flip?

[Darren Eady]

If you do not have the cash for the entire purchase, you will still need to make your offer contingent upon financing if you are using a hard money lender or a bank loan.  Unless you have ALL the cash needed to purchase the investment available to you, there will still be a contingency, and sellers may go with a non-contingent (cash) purchase instead.  

Not the best news for your situation, but it's the truth.