Refinance my BRRRR property

[Lior Nissim]

Hey!! I'm signing my first BRRR property this week, and have a financial question:

If you get the deal with hard money loan, how do you refinance it after the rehab? I don’t think the hard money loans company refinance… 

I got the hard money loan under my company’s name, but my company wouldn’t qualify for regular mortgage. Do I need to sell the house to myself? 

Thanks!! 

[Jack Mawer]

There are lenders out there who can do both the fix/flip as well as the DSCR loan for the refinance in house. This makes for a smooth transition and ensures you have constant communication with the lender throughout the process. The DSCR loan is a perfect substitute for not being able to qualify for a conventional mortgage - it is light doc, has quick closings, and uses your FICO as well as the property cash flow for underwriting purposes rather than having to prove income, provide tax returns, etc.