Question regarding refinancing hard money into a conventional loan
I've been reading that the best way to use hard money to finance a rental property, is to use it for the initial purchase/repairs, then refinance with a conventional loan. How is it possible to do that, if the initial reason for using hard money, is not being able to use a conventional lender? are conventional lenders more open to refinance, when there is an existing property? I'm unclear about how this works.