BRRRR – timeline for hard money loan and cash-out refinancing

[Henry Thai]

If most HMLs are for 6-month terms and most banks won't allow cash-out refinancing unless there's a 6-month seasoning period of rent, how does the time to rehab factor in? Wouldn't it exceed the 6-month term of the HML, or is it expected to ask for an extension?

For example:

• Jan 1 – buy home
• Jan 1 to Mar 30 – rehab
• Apr 1 to Sept 30 – rent (seasoning)
• Oct 1 – refinance

Jan 1 to Oct 1 = 9 months > 6 months