When should I refinance a property? Using BRRRR
1 Reply
Fahadbin Alam
Rental Property Investor from NJ (new jersey)
posted 30 days ago
So I bought a property for 59k cash now there is a tenant that lives in the property so I get rent from that. I'm also doing a rehab on the house and the tenant is fine with that.
Now what I'm confused about is when should I call the bank to refinance should I do it after I'm done rehabing or can I do it during?
Also can you get a refinance offer before you even buy the property? for example let's say I saw the property for 59k and I see the houses near it are like 90K becaue they have a extra bathroom. Now can I tell the bank "Hey I'm gonna add a bathroom, is possible to get refinanced?"
Brian Garrett
Real Estate Investor from Palm Beach County, FL
replied 30 days ago
You want to refinance after the rehab so you can capture the forced appreciation and the higher appraisal.