Questions about a Hard money lender HML for a rental property

[Brandon Clark]

Hey BP,

I have a home under contract that I will use as a rental. I would like to use the brrr technique, but I'm kind of confused about the refinancing part. The lender states that I can refinance after 6 months of seasoning. My question is; who can I refinance with after 6 months, what will my options be? Can I refi with any bank? Does it have to be with the HML?

I am waiting a phone call from the HML but a few other things that he mention.

-14% interest 

-6 month seasoning before refi

- 2-3 points

- I have to put 20k down ( points included here)

-Purchase price 68k

-Rehab price 3-5k

-ARV 115k-130k ( not many comps in the area)

I will be renting the property for $1400 a month 

Please let me know if you see anything wrong with this

Thanks

Brandon