Hard Money lending pros and cons

[Amit Barman]

In my previous flips, I went with private investors, But thinking of going all by myself this time with hard money lender. One of them already pre-qualified me, and I am looking at a deal right now, but I would like to hear from the experienced flippers about the pros and cons of hard money lending, other than the High interest rate. Going with the investor, I had to go for 60-40 profit split(60 being his), I figured, going with the hard money lender, interest rate will be cheaper than 60% profit share.

Comments, advise?

Thank you so much!