Using hard money to BRRRR multi-family rent / hold

[Jason Triano]

HI everyone. I'm looking to get feedback and advice on the idea of using hard money, entirely, for the down payment and rehab, then doing a 12 month cash out refinance (maybe 6 month depending on lender) to go into a conventional mortgage to rent / hold a multi-family. What experiences can you share, advantages / drawbacks? Would you recommend this strategy? Thanks!

[Tarik Turner]

getting a loan for the down payment sounds like private money.. Friends and family would be your best bet for that. However there are programs that offer 100% financing.. The borrower would still be expected to pay for all closing costs including origination fees Max all in cost is 65% of the ARV

Borrower would need to show about 15% of total loan costs for reserves and closing 

Not sure if that's what you are looking for but it's out there