Alternatively, you could use other assets as collateral

We have several people we know who will lend but you will need to have 30-40% down- and if you do not have expereince or other assets to collateralize it will be more difficult to get financed

Just ask them to cross collateralize, so you don't have to refinance them. 

Quote from @Ryan Davies: Most work this way: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 we charge $2,500 minimum)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 WeeksWe have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.

Cross-collateralizing is also another option.

Hi Daniel,Do you means of collateralizing assets you own for a short term funds like a primary residence or other assets?

So, if anyone search why doesn't Canada have 30 year fixed, the first article says they attach all your assets as collateral /lien.Seems like getting a mortgage is a big deal, but is it true you will lose everything you own if you default (with Canadian mortgage)?

You will lose your collateral/land ($1 million). 

That cash value is collateral for a loan.

As if this alone wasn’t good enough, he had pre negotiated a SUBSTITUTION OF COLLATERAL clause to be included in the deed of trust/note.