Delayed financing? who's done it? How do U get rehab $ on the HUD

[Adam Sankowski]

Hey so I'm in the middle of my first out of state BRRRR (I've been doing it in state and investing in general for a while now though) and I'm already bored ha and want to move on to the next deal. I'm realizing quickly that 6 months is way too long to wait and also I'm not really interested in pulling additional money out.

So, I was very excited when I heard about delayed financing. I understand that the basic idea is that if you buy a property in cash, and then (somehow) get all of your rehab costs onto the HUD form??? then you can refi before 6 months and pull the acquisition cost plus rehab out (but not more than that, which I'm fine with)?

Is there anyone out there who has actually done this or who regularly does this? My biggest question is how do you get the rehab costs onto the HUD form? Do you just have your contractor(s) go and give you basic bids on the rehab during the week or so of due diligence when buying it? Obviously, since this is a cash sale there isn't much time here though to get estimates. This is the part of the process that I'm hung up on...

I would LOVE to talk to someone who has actually done this and pick your brain.  I'll pay a consulting fee, not looking for free time here.  Respond or PM me and I'd be happy to make your info worth your time!  Thanks everyone!