Hard Money Lender or Private Lender?

[Kaitlyn Robinson]

I'm pushing myself to finally take the steps to start investing and stop talking about starting and I want to get my first investment property within 90 days, give or take. I hope that's a realistic goal, but regardless, I'm gonna be working my butt off to try and do it. 

So, to be frank, I'm flat broke with not-so-great credit and I've heard a lot of other successful investors started off that way. How they were able to secure their properties, though, was through hard money or private lenders. Well, I have a list of single-family homes for sale in my area that I think would be a perfect first investment, the trouble is finding the financing. Now, it could just not be clicking for me but my first question is: Instead of buying the property outright from a wholesaler, could I get a loan for just the down payment and repair cost, reno, rent, and refinance to pay off the loan? 

My second question is, I was thinking of opting for hard money lenders as opposed to a private lender simply because the next investor meet-up in my city isn't until next month. Would that be wise for a first-time investor? Or should I pace myself, gather more knowledge, and network at the meet-up to learn more and possibly find a private lender? 

As always, I love any and all constructive criticism and advice. Any literature you can throw my way is also appreciated!