Can I Obtain Properties Using This Method?

[Dennis L Lewis Jr]

Hey BP,

 This may be an amateur question, but im going to ask it anyway. I was sent a deal that consists of 3 doors (duplex and a mobile home)  fully rented that will seem to cash flow after the appropriate reserves are set aside. They want a cash offer of $128,000 for both properties.

My question to you guys is would I be able to use a hard money lender to obtain the property with cash and then refinance the property through a bank to obtain my mortgage?

Ideally I know we use hard money lenders for funding and purchasing rehabs. This particular lender though typically only charges 3 points on the front end and doesn't collect payments until the end of the loan. 

Has anybody ever done this before? Open to all input and opinions.

Thanks,

Dennis

[Wayne Brooks]

Using a HML is Not a cash offer, it's still financed. You could also get hung if you can't refi later for whatever reason and the hml is going to want a large down payment. If you think the property is Gina cable, make a financed offer.....not everyone gets exactly what they want.