What type of Lender refinances a BRRRR and can I get preapproved

[Brian V.]

I've been in contact with private and hard money lenders to finance a purchase and rehab. My question is what types of lenders would I use to refinance a property, pull cash out, and hold. Can I get preapproved for this refinance before I even have a property? I'm afraid that I'm going to pull all the stops to acquire a property only to find that I can't refinance it and pull the money back out. What are my options then, because holding costs are expensive...do I have to sell at that point as a final exit strategy?