Hard money lender help

[Neil Patel]

I would appreciate if you guys can give some guidance on if going with hard money lender is a good idea or not? Any horror stories? Recommendations on company? I'm looking at purchasing a SMH that needs some work. House will have about 50k in equity after purchase. I'm thinking I'll need to put in about 20k in upgrading. I'm starting with local banks but process will take a while and I don't want to miss out on this opportunity! I'm open to either flipping or renting it out for few years with about $400 cash flow per month. Should I get hard money? Should I ask for family's help, pay cash and refinance it after? If I pay cash, how soon can I refi it being a rental property? Looking forward for all your help! :)