First BRRR Deal HELP Please

[Michael Mullins]

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First off, thank you for the help. This is my first BRRRR so I'm sure I'm missing something. My friend is my hard money lender. So he just wants to lend me 139k and after I refi the house in 6 months I'll pay him back $139k + $6,950 for the % payment. So can't beat that deal. I'll pay for both closing cost, a rehab out of my own pocket. I'm hoping that after the refi I'll pull both closing cost, rehab, and his money out. How does everything look, what am I missing?