Hard Money and Refinancing


I am considering an opportunity to use private/hard money to acquire a property, rehab, and flip for a property at 70% ARV.

I would like to plan for 1-2 months for rehab and another 6 months to sell it. Overall, I am thinking of asking for a 9 month term. If I am unable to sell within 6 months, then I would start preparing my contingency plan would be to refinance.

A couple questions:

  • Is it realisitic to believe I would be able to refinance within 6-9 months?
  • What do you think of this strategy in general?

you want to be able to extend the term of your hard money loan,if you have the houe on the market you can’t get a mortgage on it, I think it has to be off the market about 6 months before they will consider a mortgage,will they know it is/was listed,yes,today the mortgage underwritters are like private detectives, they know things I would never know they could find out

Thank you, what is a standard term for a rehab flip with a hard money lender?

Standard hard money loan is 1 to 3 years if you can afford the rates.