Hard Money Lender question.

[Martin Snell]

I'm brand new to the forum! Hi everyone. I have a newby question. I have a bunch of questions, but will start with this one as until I have cleared this up do not feel comfortable making an offer on a house.

I have been reading posts galore and nearly ready to buy my first property and start my real estate investment journey. I have two options open to me for financing.

A: Use an FHA loan which I can get but would mean I have to move out of my current home and into my investment for a year which is not preferable. (A conventional would not work for my personal set of circumstances ATM.)

B: Use a hard money lender, rehab and then remortgage.

From an ad on BP I found lendinghome.com and noticed they do not release rehab funds until all renovations are complete.

My question is: Do you put up the rehab money yourselves and pay different contractors as and when they finish jobs, or do you find contractors that are willing to be paid when the renovations are complete? Or is there a more creative way to handle this? Any help is appreciated!