Diversifying funding. Should I use Hard Money?
For our first 12 deals, we have used private money. Now a buy and hold deal has come up that is interesting, but all our cash is tied up in the rehab of our last 4 homes. I don't want to lose the deal just because we don't have the cash on hand so I'm looking for other options.
Deal Details
- Asking price: $52,500
- Construction costs: $40,000
- Estimated ARV: $137,000
- Estimated Rent: $1,100
Should I use Hard Money on this deal? If not what are some other good options?