I'm not sure how to proceed?

[Josue Guerrero]

I was doing a little bit of reading up on the BRRR strategy blog post by Brandon Turner here on BiggerPockets. I'm slightly confused on the refinancing aspect of the strategy. I'll use his example to demonstrate:

Let's assume we got a hard money loan from a financial company for a home with an ARV of $150,000. Using the 70% rule, we purchased it for $75,000 and incurred $30,000 in repair costs getting our total investment to $105,000.

Now my question is this: a hard money lender is going to charge you interest and loan points. Let's assume its an 10% interest rate, with 3 loan points on it and the lender wants the money back in 90 days. How exactly do you go about the refinancing of this property through a conventional lender in a step by step process, assuming you refinance at a 70% LTV ratio?