Leverage: Hard Money VS. Traditional Financing and Rehab Loan

[Garrett Hardin]

Hey Everybody!

I am looking to put together my first deal in a couple months and I was brainstorming creative ways to do it. Originally I was thinking about going the hard money route, but am worried about the holding costs before refinancing if something goes wrong. Another idea I had was to just buy the house with traditional financing and get a construction loan to cover the rehab. Is this a possibility or does anyone have experience doing this? What terms could I expect for the construction loan?

Thanks in advance for your help!