BRRRR with hard money
I am trying to get into buy and hold rentals, and I'm in live with BRRRR. The beauty is the cash out refinance, with plans on investing the cash you originally put into the property into the next one.
Two questions
1. If you're using hard money, is cash out still possible? If so, when? LTV 70-80?
2. If you're putting private money into the down payment, but using a hard money lender instead of a bank, and cash out isnt an option, how can I pay the private lender back by refinancing into a new term mortgage?