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Updated about 1 year ago on . Most recent reply

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Understanding refinancing a seller financed purchase

Posted

Hello, new to this, and attempting my first purchase. I have the opportunity to buy 2 adjoining properties, each with a 2bed/1ba home. They have to close together per the seller. They are priced under market value, no major repairs, really only need updates. 

I read on one of these forums, where someone was looking for creative workarounds to avoid a down payment, the suggestion to purchase via seller carry, then immediately refinance after closing, which I understand would pay the seller immediately? Would it pay the seller fully? I would be using a hard money lender for this. My plan is BRRRR.

THANKS IN ADVANCE!

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