Hard Money Loan Acquisition

[Wayne Mack]

Hi Everyone!

I have a question that I feel like I should have the answer to but I would like some insight from you guys.

So, I found (more like fell in my lap) an off market deal in my town via a friend of the family. He is looking to sell his multifamily property that he owns free and clear. He is selling it for a fraction of the price and is offering seller financing with a significant down payment and would prefer a cash deal.

This is a deal I really want to close on; Is it possible to acquire the property in full with hard money and do a cash out refinance to repay the HML?

Or would it be smarter to use the hard money as a down payment and seller finance the rest? Then Cash out refinance?

P.S. the home is cash flowing nicely and is in a C neighborhood. Needs super minor repairs (less than $2,000) all cosmetic

Thanks Guys I appreciate the responses!