Podcast "Ian Reeves # 237" Confused about the Lending Ex: Given

[Brandon Lancaster]

Ian Reeves on Podcast #137 Says "It allows you to Buy a Property, Get it Rehabbed & Immediately Refinanced."

Now I Have Several Questions About this BRRRR Strategy/ With a Commercial Loan, but ill try to Keep it Simple.

1.He Says he Borrowed from a Short Term Fix & Flip Lender @ 10% Down, Rates @ 10.5% & 2 Points , With 1 Yr to Pay It Back. Brandon Says; "One of Biggest Downsides with the BRRRR Strategy is you Have to Get In & out Pretty Quickly & Banks Usually want you to Wait 6Mth-1Yr to Refinance.." So, Ian, Is this Why You went With a "Commercial Lender?"

Then they go on to Talk About Refinance Rates,Conventional Vs. Commercial (?) Etc.Etc

My Question : Is the  "Lender" that He Originally Borrowed From with 10% Down @ 10.5% for 1 Year, THE SAME "COMMERCIAL LENDER" that He Refinanced through IMMEDIATELY after Rehabbing, @ 5.75% For 20 Years????

Is the "COMMERCIAL LENDER in this example the same as a PRIVATE LENDER??

And Is this Common for a private/Commercial Lender to not Only LEND the Original Finances/Capital BUT ALSO "Refinance The Property for You, IMMEDIATELY After??

This Strikes Me as Odd to say the least , and i feel i have mistaken something.

Thanks A Mill.