Which is better a hard money loan or a home equity loan? Which will give me more money in my pocket?
You need to be much more specific, what are you intentions etc… otherwise you question is like asking “which is better, Tuna or salmon?”
I intend to flip it. I am hoping to get it for 23000 and sell it for 55000 with 10000 to 15000 in repairs. The hard money lender will lend 65% of ARV. I don’t know what the home equity loan would be. The hard money lender points is 7% and interest is 14 to 18 percent.