The True Cost of Hard Money Loans
Hard money is not as expensive as many believe because they are generally short-term loans and the interest rates are annualized. That means a loan with a 13% annual interest rate on a 6 month project will only have a 6.5% interest rate.
Hard money loans are best for quick deals, like real estate flips. The faster you can get out of a flip, the cheaper the loan will be!