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Most investors default to hard money because it’s simple.

But what if that’s actually costing you more than you think?

In this episode of The Wisconsin Investor, Reese Brown sits down with commercial lender Chad Miller of Bristol Morgan Bank to break down the real differences between hard money lending and commercial lending, and when each one actually makes sense for your deal.

They walk through real examples, numbers, and scenarios that show how commercial lending can sometimes require more upfront capital, but actually leave you with less money in the deal over time.

Here’s what you’ll learn:
• The key differences between hard money and commercial lending
• Why commercial loans are more relationship-based, and why that matters
• What “85% of project cost” really means and how it works
• How draw schedules and rehab funding actually play out
• Why some investors end up with less cash in a deal using commercial loans
• When it still makes more sense to use hard money
• How to build a banking relationship that unlocks better terms over time

They also dive into how community banks evaluate deals, what new investors should do before reaching out, and how experienced investors can get more flexible financing as they grow.

One of the biggest takeaways? The best loan option isn’t always the simplest one, and understanding both can completely change how you structure your deals.

If you’re flipping houses, building a rental portfolio, or just trying to figure out how to fund your next deal more efficiently, this episode is packed with practical insight you can actually use.