@Andrew Postell Thanks for your response, I am aware of what the burrrr method is. I also agree that it doesn't matter where you get the properties if the numbers look good. Yes the 4.5% interest line of credit from from the bank would be better than the 10% from a hard money lender, but if @Jess Jones wants to get around the seasoning period with the refi, why would he not go that route? Buying with a hard money loan is the same as buying with cash. He could work the couple thousand that he paid in interest from the hard money loan into his numbers and still come out of the refinance with $0 left in the deal (a perfect burrrr). If you don't want to hit snags when it comes to the refi then talk with a lender before you start buying to be sure you will be able to get the refi done when it comes time. You don't need to know what property you are interested in buying at the time of inquiry with the lender. The lender is just looking at your personal finances to see what your pre-approval is on a mortgage. (This is the current step I am in.) I think the refinance part of the burrrr method is the most important. You can do everything else correctly and then not be able to get the 70% ltv 30yr fixed you were planning on. If you know what you are pre-approved on, and you know what banks will offer you at least 70% ltv then you're golden. If somehow you are unable to do the refi, look for a dscr lender, or simply turn your burrrr into a flip and make some quick cash.
