BRRRR rehab during prior tenant lease

[Matthew Williams]

Hello everyone,

I was wondering if anyone had advice on how to renovate a property when there is a prior tenant who still has a lease. My strategy is to use hard money to buy and renovate then refinance to get the down payment back.

But if there is already a tenant, whose lease expiration date will not leave enough time to renovate before the hard money is due, Can any thing be done to overcome this?

The reason I ask is because I don’t want to have to return to the unit when the lease expires to renovate it with my own money, I want to do it while I have the hard money and the ability to refinance in order to pay for it all upfront.

Is anything possible in the situation?

Thanks all