Is hard money a good source for construction loans?

Is hard money a good source for construction loans?
In my opinion using other peoples money to finance real estate is an aged old tradition. And it is true for construction loans as well. There is a great book written by Michael Lechter, my business partners father, called OPM "other peoples money". http://www.mlechter.com/ Keep in mind that when you spend other peoples money there are costs to that transaction. Hard money on the surface seems to come at a greater cost in both fees and interest rate. But if used properly, hard money can keep your own money in your pocket or in other projects. I am interested in hearing from a few hard money lenders. I may have customers for OPM.
A hard money loan is a specific type of financing in which a borrower receives funds based on the value of a specific parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and not yet qualifying for traditional financing. Whereas hard money often refers to not only an asset-based loan with a high interest rate, but can signify a distressed financial situation such as arrears on the existing mortgage or bankruptcy and foreclosure proceedings are occurring. Source: Wikipedia®

Best of Luck,
Troy Schruicht