Immediately refinance Hard money loan

[Isaac D.]

I’m closing on my 2nd flip in a few weeks using hard money.

I’m estimating it’ll probably take 4 months to do the rehab and another 2-3 to market and sell the property.

I could get a conventional loan but this property wouldn’t qualify due to some minor issues, and the seller was distressed and needed a quick close.

The numbers work either way, but if I were to remedy the minor issues within a couple weeks could I refinance immediately and save a ton on my holding costs. Anyone have experience doing this? Is it worth the hassle? Is it even possible at all?

[Wayne Brooks]

@Isaac D. Your hard money loan likely has a minimum number of months of interest that has to be paid, regardless.