BRRRR Investing - Transferring of Lien

[Drew Lied]

Hey Everyone,

I'm really close on my first BRRRR property and very excited! I have one question for everyone as it was brought up to me today.

I am going to borrow 190k for the deal using private money.

I found a bank that will let me refinance after 6 months.

1. How does the transfer of the lien work?

2. Is the private money lender lending the money directly to me or do they get a lien on the property?

3. After the 6 months, does the bank pay the private money lender directly first and get hold of the lien?

Thanks guys!!!

Drew