If you are planning to put in more than 15k to the rehab, I would look at how the numbers work with a hard money bridge loan, as you can normally get better terms on the refi if you are refinancing out of other debt. 

This led to us to going with bridge debt, which will be refinanced into agency upon stabilization.

The deal is financed through an 80% Loan to Cost bridge loan.

Most dscr lenders aren’t grasping that the average rent ready home isn’t 100k in Michigan, let alone if you want to short term bridge and rehab you will run into issues getting a long term refi if Arv isnt 100k +

We do a cash out loan for you on a bridge loan with no pre-payment penalty pulling out the cash, them immediately refi that new loan amount as a rate/term into a conventional loan for the lower rate/no pre-payment penalty conventional loan.

If you are trying to secure in a bridge loan, and rehab the property, and the seller records the 2nd lien the lender may freeze the rehab funds. 

Do NOT over leverage Try to stick to agency debt that’s fixed for a long termIf going with bridge, try to get fixed interest rate bridge debt with extension options💪🏼 Manage Right- Ask how much experience do they have as an operator?

As a property manager, he seeks to bridge the gap between real estate investing and out-of-state owners and empower individuals to be financially free.He manages my rentals.

Hi @Alejandro Martinez,You can start with the 'Find Partners' tab on BiggerPockets, where you can sort hard money lenders by state.Beyond that, you can look for commercial bridge lenders through more typical search engines; there are many hard money lenders with commercial bridge products.Best,Michael

I would love to hear what professionals think of bridge loans for a purchase & repairs of a house to flip.