Fix and Flip Loan + Cash Out Refinance?
Has anybody used this strategy previously? I will be closing on a second property in a couple of weeks and I will be in a saving mode for about 2 months before I could possibly close on a third property.
I am wondering if it is possible to obtain a Fix and Flip loan to cover the closing and rehabilitation costs then do a cash-out refinance instead of selling the property like people typically do?
Is there a better strategy to acquire a property with minimal up-front costs? I would love to have a project lined up right after the settlement day for the second property that won't require 20% upfront costs, if possible.