BRRRR With Traditional Mortgage

[Paul Lambert]

Hello all! 

I am still learning a lot about real estate. Every time that I hear somebody talk about BRRRR, it involves hard money up front which hurts, even paying just interest. Most of the properties I look at have tenants and are livable. Is it possible to get a traditional loan, then rehab (pay cost out of pocket for this), rent, then refi for the improved value?

Thanks!