I had made a commitment to buy a rental property by the end of the year, but we have a closing date of January 8th, so I am excited for that. As I am pondering on my next property, I realized that a strategy that I like is buying a house cash, renovating and refinancing so I can fund my next project. The issue stands with the bank i am currently working with, I asked about refinancing for rentals and they are no cash refinancing. This is not what I need so I am hoping to find a bank in the Augusta, GA area that offers cash refinancing, any and all suggestions or recommendations are appreciated.
Hello @Gustavo Lopez ,
Congrats on the soon to be purchased property. My wife and I also invest in the Augusta market. Where is your property located?
Unfortunately I do not have any contacts with banks in Augusta at this time. To this point we have used Brand Bank in Atlanta to finance our purchases. They have all been ready for rent so we have not had the opportunity to try the BRRR method. I would suggest calling a few banks or better to go in person and ask about refinancing options. Good Luck!
Winn and Kaitln Merwin