Hard Money and then refinancing into a conventional loan

[Matthew Metros]

To preface - I am really a new investor.

From my understanding, if you want to purchase off-market, oftentimes you are dealing with wholesalers or people who need cash now.

Unfortunately, conventional and commercial loans are not an option, because of the processing times it takes to deliver the cash to wholesaler or owner who are looking for cash buyers/
Hard Money and then refinancing into a conventional loan seems to be the strategy to stay competitive with cash buyers.

What is the standard operating procedure to make this successful?

I would imagine that I would want to hold the hard money for as short as possible because of its higher rates. Then receive better financing terms on a commercial or conventional loan.