Purchase+improvement mortgage in Edmonton,AB

[Elgin Badon]

Hi Bigger Pockets,

I'm new to the real estate investing game. After months of learning and researching, I think I'm ready to purchase my first income property. I've decided to follow the BRRR strategy.

When I went to see a real estate agent to look at some properties he mentioned to me the purchase+improvement mortgage which lenders now offer. In which the cost of the renovation is included in the mortgage.

Has anyone ever used this mortgage and does it still produce the same effect as the normal BRRR strategy where you skip the refinancing stage?

Thanks in advance.