Using hard/private money to secure a property then refinance
Hi BP,
Has anyone in BP ever used private or hard money lending on their first deal to secure a property (let's say that the owners are looking to close quick and will take cash buyers only). Let's say that I use hard money to purchase this deal and I want to live in the property to do some house hacking. I would definitely need to refinance the property into a conventional loan. Has anyone implemented this strategy in BP? Please help me understand your thought/risk process.