This is why when people ask “Should I get an accountant” on the bigger pockets forum I usually answer 9/10 times yes.

Happy to answer questions if you provide more info.

What is the point of refinancing out to a higher amount for a higher mortgage if original purchase price has a lower mortgage?

With that, we became the American Association of Private Lenders—and we began spreading the word.Finally, Some DefinitionsUnderpinning the concept of minimizing the use of “hard money” in our industry is a recurring theme of standardization—that the root of the issue is too many interpretations of what the same terms mean.We offer up the following definitions for discussion, debate, fine-tuning, and eventual consensus [last updated 5/9/2022]:Private lender: Any non-depository individual or entity that primarily originates business-purpose loans secured by hard assets, generally real estate.Hard money lender: A subset of private lender where creditworthiness is determined solely by the securing real estate collateral.Correspondent lender: A subset of private lender where the closed loan is sold to investors.Portfolio lender: A subset of private lender where the closed loan remains in the lender’s portfolio.Fund manager: A subset of private lender where, depending on the fund structure, the deployed capital is sourced by offering exempted securities to accredited and occasionally non-accredited private investors.Private investor: An individual or entity that seeks a return by deploying capital through a private lender or fund; the investor may or may not be named on the loan’s promissory note.Private money broker: Any individual or entity that acts as an intermediary between a borrower and a private lender without directly originating the loan.

They say the reason that they are called foreign profit corporation is because they originally founded in NC but now they operate in Georgia.

Problem with that is I would have to have to take out an original conventional loan to start, then right away refinance and get double hit with the lenders fees.I know I will run into the same issue as before where the money is essentially locked into equity because of the small loan amounts if I move forward and purchase this now house for $65k. 

Originally purchased for cash flow, this property exceeded my expectations by appreciating roughly 70% over five years, jumping from $130k to $220k.

Purchase price: $61,000 Cash invested: $3,500 Inherited home from Dad with a $60K balance on the original mortgage.

Thanks for your straight forward answer, @Bryant Brislin, much appreciated.

Looking to remodel my single story house not far from the original Apple campus, and I'm in contact with a ADU company.