I am thinking of getting a hard money loan, but interest rates are through the roof!!

@Nikesh PatelCash flowing on a long term rental is very hard to do in this rate environment unless you find an absolute deal.

Want To Get Our Best Rates And Terms?

Default rates for Canadian bank mortgages are something like <1% vs 3.6% in USA I believe.    

The initial returns are lower on paper in better locations (lower cap rate, less initial cashflow according to the magic spreadsheet), but the overall returns in reality are much better including all the different ways people make money in real estate (gained equity through natural and forced appreciation, principle pay-down, increasing rents= higher cash flow when looking at the big picture if you buy and hold, depreciation tax benefits, plus way less of the big profit killers like turnover, non-paying tenants, property damage and theft, dealing with bad contractors because good ones don’t choose to work in bad areas either, etc.). 

It's on you to learn the numbers, rehab estimates, rental rates, and good locations.

Thats 400 more, per month, every month, for 30 years… an additional 144,000 in just interest payments alone.But check this out, not only have rates shot up over 250 basis points, 2.5%, from 4% to 6.6% but what else has gone up?

However, the existing tenants are paying about half of what current rates appear to be, according to my research on Rentometer, Apartments.com, and HotPads.

Hello Friends,I just got my first investment property ever in Cleveland. I want to use my own home inspection company rather than the brokers. Is there anyone who can guide me please if you have a trusted company?Than...

However, the other friend (who is a loan broker) said it's better to do a note, so that I can refinance as a rate change in 2 months.