by a Bank.  Since the Conventional Lender turned you down, you are a higher risk, so Hard Money Lenders will charge higher interest rates than the Bank. Unconventional lenders are often easier to deal with, in that they require less paper work, and can make quicker decisions.  Also since many of them do not report to the credit agencies, they may not affect your credit ratings as quickly. Both Conventional Lenders and Hard Money Lenders, have one thing in common.  They want to make money, not loose it!!!  Using OPM is a game of numbers, odds, and past performance.  There are certain Realities that newcomers need to understand.  You need to have a written plan that proves how your going to pay the Lender back.   You need to convince the lender that you know what you are doing, and having previous experience (good or bad) can be an asset. Before you approach any Lender you need to do a business plan.  Yes, even if your going to just apply for a mortgage on your own home, you need to go in and show how the costs and expenses will affect your Cash Flow and ability to make payments.  If you don't have a Business Plan, you already look like an amateur, a point against you.  Every Lender, especially Hard Money people, understand numbers and deals better than you do.  So going in and "saying" "I've got this deal where I'm going to make $1000.00 a month positive Cash Flow" isn't