Hard money lending for buy & hold

[Adam Bonifant]

I am starting to consider hard money lenders, because I recently became a 1099, and banks don't want anything to do with me (despite that I work for the same company I did as an employee and make more). Are hard-money lenders a good option for buy & hold properties (SFHs), or should I consider HMLs as a bridge to traditional financing? Thanks

[Bruce Lynn]

Hard money is typically short term money.  So you can buy a house that traditional lenders won't touch due to "issues".  Then you fix the issues and refinance into traditional mortgage product.

Don't count out traditional lenders because you are 1099.  They may just require more documentation.