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Updated over 3 years ago,

Logan Clark's profile image
Logan Clark's profile image
Logan Clark
  • from Huntsville, AL
  • Member since Apr 6, 2021
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16
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5
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Logan Clark's profile image
Logan Clark's profile image
Logan Clark
  • from Huntsville, AL
  • Member since Apr 6, 2021
Connect
Logan Clark
  • Huntsville, AL
5
Votes |
16
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

BRRRR - What if rehab takes longer than hard-money loan due date

Logan Clark
  • Huntsville, AL
Posted

If I take out a hard money loan to finance a property that I plan to BRRRR, what happens if, worst case scenario, the rehab is drug out (due to horrible contractors) long enough to where it will not be finished before the loan is due? Would I have to go ahead and refinance using the initial appraisal price? Are there any other exit strategies?

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