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Everyone says hard money is a trap, but the $3,400 in points on my first flip in Mesa was the cheapest money I ever got
Yeah the rate looked ugly at 12%, but when I ran the numbers the points and fees came to $3,400 total, which was less than what a bank would have charged me in closing costs and appraisal fees on a loan I never would've closed in time anyway, so has anyone else actually done the math on hard money versus a conventional loan that dies in underwriting?
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