Is HML an alternative to a cash purchase?

[Courtney M.]

I have my eyes on a deal that would be a GREAT BRRRR/flip. However, the house doesn't qualify for conventional financing due to the rehab needed. Would you seek out HML in this case if you didn't have the available cash to buy outright? Or are there other options you'd consider first?

[Michael Kistner]

@Courtney M. I’ve used hard money a few times in similar situations. I’d recommend finding lenders who’d refinance before you go that route. I’ve been able to find lenders who don’t require seasoning periods which saves some money given the higher interest rates. If you have the ability to HELOC that’s probably a safer bet just starting out. Hope that helps, and good luck! - Mike