Financing for properties in need of rehab

[Eddie Marcano]

Hello BP

I have a Question when it comes to purchasing distressed or properties in need of rehab.

We currently own a 5 unit in Schenectady,NY. The property is free and clear. Originally, our first approach was to refinance the property and use the funds to purchase another. Refinancing seem to be the way to go.

My question is: Is hard money or private lenders the only way to purchase properties in need of some rehab or are there any institutions that will lend to ARV with conventional rates?

We want to buy and hold but the area we are interested in the properties are in need of some repairs.

Thank you all in advance.