Private or hard money for first flip?

[Paul Fagot]

Im looking at buying this house in Redbluff, CA and I'm getting it wholesaled to me for $77,000. Pretty nice house in a good neighborhood right behind and down the street from the high school also there's a house being built right next door. House is in pretty good condition new roof less then 3 years old and the foundations good. Needs mainly cosmetic repairs, paint, carpet, kitchen, bathroom, lights, gutters and flooring. Comes with all cabinet doors and hardware along with windows that need to be installed as well. It has a garage but it's been converted to another living room. Called the city and they had no records of the conversion or of the added on room behind the garage. So I'm gonna assume it needs to be converted back to a garage, but the lady swears it's permitted. I Had a contractor come check out the property he said it's seems to be structurally sound and built correctly but only way to find out is take out the walls and check. But besides the garage and back add on. The house needs 15-20k in repairs inspector/ contractor said that's on the high end. So I'm estimating $25k in repairs possibly $30k. House ARV is $140-150 What I'm asking is which way do I go with this. I have no money to put down at all. So private money or hard money? I was thinking about going the hard money route. Any advice?

[John Leavelle]

Howdy @Paul Fagot

Two things.  Get validated proof of the permitting.  Something you can verify with the county/city.  Don't get burned.

If this is your first purchase you may find it very difficult to get a Hard Money loan.  They will want you to have skin in the game and/or some experience.  More than likely they'll want both.