Question on BRRRR financing with Hard Money

[Hamlin Caldwell]

Hey new to the site, and to investing! Been listening to the Podcast for a while and looking to put my first deal together. However need some advice on BRRRR financing.

My stratergy/thought right now is to househack a tri or quad plex which needs to be rehabbed, use hard money for the rehab, then (using the 70% rule when purchasing) refinance with a mortgage lender at a 80% LTV over 30 years (since it will my primary residence).

Quick Questions (I apologize if they seem basic)

1. Would a mortgage lender allow a refinance with 30 year term since I own the home already..? I think I know the answer but haven't done this before!

2. Could I get a refinance greater than a 80% LTV on 30 years, say 90 or 95% LTV (since this will be my primary residence)

3. Will a hard money lender require me to put any cash into the rehab myself, or would they just require the 3% financing fee up front?

Any feedback is helpful, thanks! New to investing but ready to dive in!

Hamlin Caldwell