Refinancing and Hard Money

[Jordan Epping]

Forgive me if I am missing something simple here. But thinking about the BRRRR process. I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property. If my goal is to refinance the property once it is rented and rehabbed, but I cant get a bank loan to pay off the hard money lender, what do people normally do? Is finding a bank to loan me, the only option?

[Robin Simon]

Quote from @Jordan Epping:

Forgive me if I am missing something simple here. But thinking about the BRRRR process. I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property. If my goal is to refinance the property once it is rented and rehabbed, but I cant get a bank loan to pay off the hard money lender, what do people normally do? Is finding a bank to loan me, the only option?

Hi - not missing anything, this is a very common issue. Please check out this recently published article on BIggerPockets which addresses your exact question - BRRRR financing pros/cons of all the options (Cash / Hard Money / DSCR / refinance options)

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...