Hard money vs cash out refinance

[Stephanie Cortez]

Hey all! I am still learning and trying to figure out the best way to finance buy and holds and eventually flips. I love bigger pockets and how much I have been able to learn from others. Something that I see a lot is using hard money lenders and OPM to finance projects. However, I have a property that I own free and clear with an appraised value of 160k. I would like to do a cash out refinance and complete the brrrr method and hopefully repeat the process. My question: what are the benefits of using a cash out refinance vs hard money? Can you use hard money or OPM without any of your own money down? Anyone willing to teach me the process and or let me watch them work a project?!  I would be open to property management/ administrative tasks in exchange of learning the ropes. 

[Lorien Rollins]

@Wyatt Wolff