Scared of using hard money

[Marco Morkous]

So I want to use hard money. I really do! I know for sure based on what I’ve learned that it would fast track things for me. To put things into context, I already have successfully completed one brrrr but that was through a community lender. The thing is I can only do that with very cheap properties due to down payment and rehab amounts.

If I keep trying to use community bank investment loans or even Fannie Mae, it would take years to accumulate a lot of properties where as hard money would fast track it for sure. However, it scares me. The interest rates on it, the balloon payments and every other term I can throw out associated with it! Thoughts? Success with it? Failure?