What is your opinion on this financing strategy?
Assuming it is possible to do this, for the purpose of financing a BRRR deal, is it a good idea to get a bridge (personal) loan to cover a hard money loan fee to purchase a property (if upfront payment is necessary) + closing costs + the rehab of a property + foreseeable holding cost, if the deal is showing cash flow positive even before refinancing and can also cover the monthly personal loan payment as well? Then payoff the personal and hard money loan when it is time to refinance in 6 months?
Could this financing strategy work for those who are cash restraint or just don't want to put a lot of their own money into it? Or is this doing more work than necessary? Has anyone done this before?
Just trying to get creative as to how I can get financing for the acquisition, rehab, and holding cost to BRRR a small MFR. Do you have any suggestions as for some best ways to get these types of financing without anything out of pocket?