The ugly truth about "Hard Money" as they called it in real estate investing worlds. A HARD MONEY LENDING: The truth about getting into debt for Fix-and-Flipping Houses!
Hard Money Lending Explained.
Should you borrow money from a hard money lender to get into Real Estate investing?
I believe in good debt and bad debt.
There are plenty of schools and coaches that recommend hard money lending for flipping houses. Fix & Flips are risky business if you're new or a rookie and you're thinking of borrowing, you could be dancing with the devil.
In my opinion, I think fix and flip loans are just not for beginners, instead I like to use the home owner of the house to just take over their house payments. A real estate investor strategy called "Subject To Investing" where a Motivated house owner will allow a real estate investor just to take over their house payments. In other words the real estate property owner will become the private bank for rate real estate investor, there for the investor does not have to get a loan from a bank or lender. There the real estate investor does not have to use their credit or come up with all the cash to buy the house.
Other real estate investor call this Creative financing methods such as Subject To Investing.
Debt like Hard Money Loans can be beneficial for the more advanced and experienced investors.
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