How to buy a rental with hard money? Issue I'm having

[Ryan Cavasin]

Whats up BP,

So i found a duplex in my area that just  hit the market 2 days ago, It's list price is $179,900, it needs a lot of work but it's currently being rented for $2,115 (unit 1: $1,265, Unit 2: $850), cashflow is very high if i used a traditional bank. The issue is banks won't look at me because I just purchased my first property so I'm turning to hard money.

The question I have is, lets say I use a hard money lender and I want to fix it up while there are already renters in there, do i have to wait until the lease is up? or can i do renovations while renters are living there?

Thanks.

[Kris L.]

You might be able to convince tenants to move out before lease is up for cash, but doing a Reno with a tenant still in the property, with all their personal items all over the place is probably not going to work.