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Updated over 7 years ago on . Most recent reply

Zachary Peacock's profile image
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Zachary Peacock
  • from Louisville, Kentucky
  • Member since Aug 1, 2017
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Zachary Peacock's profile image
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Zachary Peacock
  • from Louisville, Kentucky
  • Member since Aug 1, 2017
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Zachary Peacock
  • Louisville, KY
5
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Rehabbing & House Flipping

Strategy - Hard Money Loan to finance rehab - then refinance out?

Zachary Peacock
  • Louisville, KY
Posted

We are buying two full rehab homes for <$25k in total - our strategy is going to be to fund the rehab with a hard money loan, build equity once the rehab is complete and then refinance the homes to get out of the hard money loans. 

Is this a good strategy?

What are the major variables we should consider? 

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Harjeet Bhatti's profile image
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Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
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You have to wait 6 month to cash out from these properties when you will use HML.

  • Harjeet Bhatti
    • 2 Votes
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