BRRRR Question on Initial Investor Payout

[James Kennedy]

This may be a goofy question, but want to make sure I am thinking about this correctly. Every example I have seen on BP or other sources of how a BRRRR works when you are getting money from an investor/hard money lender up front, shows a payback to those folks of the same amount that was borrowed. For example, if you get $100K from hard money lender to buy/rehab the property, after you refi with the bank and pay everything off, all the examples would show paying the hard money lender back $100K, not $100K plus interest. Is that correct? I assume it isnt and if so, the ending numbers on how much you have left over (or not) are not correct. Am I thinking about that correctly and the examples are not including interest to simplify the example? Thanks in advance.