Using the same lender for hard money purchase and for refinance

[Liam Delumpa]

If you are using hard money for the initial purchase of a BRRR, are folks typically using the same lender that you would use to refinance once rehabbed? Or is it better to seek out a specific hard money lender for the purchase and have a pre-approval ready for the refinance with a different lender?

[Jayson Cain]

It depends. For example, if you're doing the BRRRR and you want to refinance without any seasoning period, then going with the same lender would sometimes be beneficial.

If the lender funds the purchase and rehab of the property, then you don't need to wait 6-months to refinance the property if you want to use the new value of the property because the lender knows the work you put in the property.