Is this realistic? Refinance Question...
Here is our scenario: My partner and I would like get into real estate investing, we plan to take out a hard money loan to purchase dirt cheap properties in Baltimore, MD for cash flow. These properties are in the price range of 5k-15k. They will rent for around 800-1000 a month.
My question is, will we be able to purchase these homes with hard money, refinance and get a mortgage on these properties? Next, after we get the mortgage will we be able to get a HELOC on this property so that we will be able to do more deals like this?