Refinancing the loan in BRRR
Hello everyone, I have a question regarding the hard money loan. When following brrrr strategy do I have to include the interest for the hard money loan into the 70 percent rule? For example if I purchase a property for 40k plus 30k for repair cost and holding cost. And the ARV is 100k. And let's say I took a loan out for 60k and I pay 10k out of my pockets which means the interest rate would come out to be 7200 for the hard money loan. When I refinance the property that 7200 interest rate would be coming out of my money correct? Do I have to add the interest rate into the 70 percent rule so when I go out to refinance the hard money lender gets there interest and nothing comes out of my pocket?