Hard Money Lending for a BRRR attempt

[Nik Lee]

Hi everyone

I am new to real estate investing and had found bigger pockets a few months ago. I have listen to a few podcasts. What I would like to accomplish is buy and holds for cashflow and eventually financial freedom.

I however do not have much cash and was wondering if anyone here do any strategies of buying a property undervalue using hard money, renovate with hard money, and then find a tenant. Eventually refinance into a traditional bank loan so the interest rate will be lower and I would be able to pay back the hard money.

Please let me know if anyone has done this and how has it work for you or if this is not a sound strategy.

Any input will be great since I’m a newbie.