Deal 1st, then hard money lender for rehab?

[Katie Golden]

Hello, 

I am looking to preferably build rental portfolio. I want cash flow. I have been talking to sellers that have distressed properties.  So I was thinking of acquiring these distressed homes w short term seller financing, (2 year avg), and then Brrrr them to build portfolio. 

My question is with the 1st rehab I acquire, would hard money lenders loan on SF deals? And should I acquire the deal 1st, 2nd apply for rehab loan? Or do you apply and then find your deal based on what they would give me?

New to the hard money lending! Appreciate any info and guidance here! :) 

(Btw I have 1 deal under my belt, SF but needed no rehab!, so I have tenant. Those are RARE, most need rehab).

[Tim Johnson]

Hard money will cover both purchase and rehab but you need down payment money