@Jason DiClemente Thank you for that, but now my question is, so I buy the property as if it was a flip, once it's rehabbed, get it appraised, and refinanced within the time frame of the first loan, and get a conventional or commercial loan on it? and when do I get the tenant in the property, once I refi or once I finish rehabbing?
You get it rented out before you refinance.
Perfect, thank you very much!
We use private loans up front (8-9% interest only), that way we can finance the whole purchase and rehab (or most of it as it usually goes) and don't have to pay a bunch of loan fees. Then we get a long term bank loan once it has been rehabbed and rented.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing