Using Hard Money for BRRRR

[Ian Price]

Has anyone used hard money to BRRRR a duplex that I can house hack for my first deal?

The trickiest part of this will probably be the REFI. Any advice on how to approach local lenders before I start buying? Will the bank be hesitant if I am paying part the mortgage?

Thank you 

[Chris T.]

@Ian Price

When you refinance, the new loan is going to pay off the HML or cash-out or whatever loans you used to acquire the property.

Therefore the numbers are more important especially the ARV. In fact, if you use a HML, they will help you underwrite the property, to make sure your numbers are accurate. If not, they will not lend you $ if it's not a deal.

If you haven't started calling local banks yet. reach out to local investors in your area. Introduce yourself and ask them if they've referrals. A warm call, with an introduction, is much easier than a cold call.