Has anyone experienced using rocket mortgage to do a brrrr or refinance a deal? Just curious as someone who is looking to invest out of state if this is a viable option or if it's better to find a local broker.
@Sean Harris Yes, there are much better options than Quicken loans. I have found mortgage bankers are excellent for helping with creative financing for a BRRR. But depending on the market you looking to invest find a good Realtor that is a fellow investor. They can recommend several lenders depending on your exit strategy. I have several lenders for various exit strategies that I recommend to my clients here in the Dallas/Ft. Worth area.
That's what I figured but I just thought I would get some input. I got some lenders referrals from my agent and they are all banks. Some people say to try and get a good broker because most banks will only give out up to four loans and with a broker they are alot more flexible, is this typically true?
I represented a seller during a transaction where the buyers used quicken loans. There were delays and problems throughout. Definitely use a local lender or someone recommended by your agent. A good lender can make a huge difference.