The Hard Money Process

[Shane Hitchcock]

Hi, 

I've been stalking the BP forums for years and it has always provided great value! Can someone who is versed in the hard money process explain to me what it looks like if you were to use Hard Money to buy a "Cash Only Property". The plan would be to use a hard money lender (providing 20-30% of my own money) to pick up a property that is Cash only and then refinance into a 30 year, rental hold. 

I believe there are gaps in my knowledge. If someone can explain that it would be greatly appreciated and I will return the favor down the road :)