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Updated about 6 years ago,
Hard money flip to conventional funded AirBnb
Okay, I had some trouble putting my random thought into a comprehensible form so bear with me...
Let's say I use hard money to fund a fix/flip in a hot rental/ vacation area.
Assuming all went well and the value is at or exceeding market value, would it make sense to then get conventional financing, pay off the hard money loan, then keep the flip as an Airbnb or short-term rental?
Also, I would be using hard money assuming I wouldn't be able to get conventional financing on the flip in the first place. Just looking for some experienced or knowledgeable insight to if this idea would be feasible let alone logical.
Thanks for the input!
Patrick