Using Hard Money to Finance a Flip

[Brett Winston]

Hello BP!

I'm starting to get creative! I am 22 years old. I work 50+ hours per week. I have a lot of expenses that eat most of my monthly income. I'm not broke, with a great job and good income and a reliable partner (my amazing girlfriend), saving up is just difficult.

So I want to flip, and I'm thinking about using hard money to finance my first flip initially. By getting a great deal on the house, a good deal through lender, and making a third partner out of my contractor. I can see many situations where this turns into a fair 1/3 split return on investment for everybody without having to come out of pocket for anymore than cabinetry, paint, flooring, etc. No labor costs, because remember, my third partner is my contractor and his reward will be profit from flip. 

What do you all think about hard money? Is it the best option when you have very minimal to come out of pocket? Do you have any other suggestions?

PS Brandon Turner, after reading your book, and joining your webinar today... This is my first step towards commitment.