Advise on Hard Money Financing in Northern NJ

[Jasmine Cotes]

Hello,

I will be investing in multi families in northern New Jersey and predominantly buying and holding. I will be doing my first few deals through hard money and plan on doing the BRRR strategy.

I already have an FHA loan and funds/reserves are not high enough that I would want to risk throwing so much into a conventional. Hard money looks like my only option.

Any crazy/hidden fees or agreements I should be aware of.

What are points and what do they mean in dollars$?

How much more is it really to go hard money vs conventional, talking small money loans (100-250k)?

What happens when I go to refinance anything problematic or over complicated to be aware of?

Thanks for the help!!!