Advice needed

[Gwendolyn Davis]

I have asked a few question trying to find a strategy to purchase a property. 

Is it possible to borrow money from a hard money lender to purchase a foreclosure property for cash then refinance the property to pay back the hard money lender?

[Jon Holdman]

Yes, you can do this.  I've done it.  Its expensive, though, but it can be a way to get into a rental property with less cash out of pocket.

But lets clear up one piece. When you borrow from a HML you are financing the property. Not paying cash. That's a common misconception. A hard money loan is still a loan.