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Updated over 2 years ago,
Delayed financing with Hard money
Hey everyone,
I am considered using hard money to buy fixer uppers and then convert to long-term rentals with ADUs. The goal is to rinse and repeat. Does anyone know if purchasing a property "cash" , but with hard money, will qualify for delayed financing?
If I go hard money, I need to have an exit strategy and I want to refinance ASAP when rehab is complete.
My other option is to wait the 6 months and by that time the ADU will have been built and will increase the value.