Hard Money for quick close and then refinance?

2 Replies

Is it possible to get hard money to negotiate a lower price (cash price), and then refinance the loan with a bank for a lower interest rate. Think of doing this for a rental property.
Originally posted by @Tony Cimino :
Is it possible to get hard money to negotiate a lower price (cash price), and then refinance the loan with a bank for a lower interest rate.

Think of doing this for a rental property.

Yes, it is possible. But expensive as HML charge upfront points on the deal. So you would need to look into the cost associated with the strategy vs the discount you will get by paying cash