Is Do Hard Money legit?
This would be my absolute first flip and I've already identified a property that is selling for $50k, and the literal next door over was just bought for $65k and sold for $125k 3 months later.
My Question is: I'm preapproved with Do Hard Money who is offering to give me for my first flip 70% of the ARV. They're offering 5.5 Points on the project and 1.25% interest per month on the money. I have to only put down a $3,000 Down Payment which, after the entire project is done they'll refund me $2,350. Otherwise, the only other money I'll have to put down is earnest money.
They say that they'll fund 100% of the Purchase and Rehab costs if it's under 70% of ARV. Is this a good deal? Is this normal?