Private or Hard Money Lender? Best way to flip

[Steven Andrews]

So, I have been in residential construction for over 20 years and in real estate for 7 years. I am really wanting to get into flipping due to my experience on both sides.   Who are the best lenders to use? Hard money or private money. Also, how do I find the private money lender? 

I spoke with a hard money lender & rates were ok , but they wanted me to have pretty much the same amount of money available that I was needing.  If I had the money I wouldn't need their money. Any ideas and am I going about this the correct way.  

Another question, if I am looking at a 100k buy with 20 I in repairs and ARV is 140k. How much out of my own money will I need to make this deal happen if any? Obviously, I would like to NOT come out of my own pocket if possible.

[Odie Ayaga]

Okay @Steven Andrews it's good to hear that it's just an example because, as you said it's a bad flip, however, it's also a bad example. The others covered the salient points regarding where and what private lenders are and what to expect from hard money lenders in general. There are a lot of different options available depending on the lender, but the reason I said it's a bad example is because a pretty common standard amongst hard money lenders is to lend no more than 65-75% of ARV. So even a lender offering 100% financing would only offer 91-105K total for the purchase and rehab which would mean you'd have to come to the table with cash.