Wrapping my brain around creative financing

[Lance Card]

Hello BP! I'm trying to wrap my brain around some of the creative financing options as we're looking into pursuing our first property for a buy and hold scenario. I've been bouncing the concepts around and around, but the following scenario keeps staring me in the face and screaming: DOUBT ME! So, I'm hoping that some of you people who are smarter than me can put this to bed.

Scenario: Purchase a property using hard money with the intent to refinance as soon as possible into some kind of a traditional loan.

Cons: 

• Hard money is hella expensive interest
• You have to wait 6-months to refinance from what I've read

Pros:

• You can cash buy where you don't have immediate cash reserves

What am I missing here? 

I appreciate your comments and thoughts in advance.

[Rosston Smith]

You have that summed up pretty well. That's honestly about it besides the specifics you can discuss with your lender.

You could also use private money the same way for way cheaper.