I am looking to purchase an investment property from another investor and I’m trying to weight my options. The investor started the renovation work and he wants to sell it as-is. I would then purchase the property and complete the renovation and use the property as rental. He purchased the property all cash.
Does anyone know of any hardmoney lenders that will cash-out refinance me with no title seasoning if he quit claims the property to me?
Or if he sells me the property with seller financing, can I then refinance the property paying him off as senior lien holder and cash out?
Any ideas would be greatly appreciated. Does anyone know the legalities of this idea?
Thanks
Jaz