Posted by Michael on October 07, 2001 at 23:28:40:
The only reason I would use a hard money lender is if I could buy a rehab cheap and flip to and investor for a few thousand or to buy way below market and sell retail FAST! The key to using hard money to get in and out of a deal quick, because of the high interest.
If you are looking to buy and hold for a longer term try finding deals that you can acquire through lease optioning or buying subect to. Bothing require little or no money and give you the time you want for the longer term cash flows.
Have a good one!