November 2, 2018
Often times, when I talk to a novice investor or even a somewhat experienced investor, I hear, “I want to do a flip or buy a rental but I don’t have enough cash in my IRA and the bank won’t finance me…”.
The easy solution to this common problem is ‘Hard Money’. The following response I often get is either ‘what is that’ or ‘I heard they charge insane rates and are too expensive! The truth is, Hard Money is not as bad as many people think.
I’ve closed at least 50% of my deals using Hard Money and every one of my buyers who’ve used it is satisfied with the strategy.