When should I refinance a property? Using BRRRR

When should I refinance a property? Using BRRRR

Rental Property Investor · Member since 2020 · 162 posts · 40 votes

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?"

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  • Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
    5y

    You want to refinance after the rehab so you can capture the forced appreciation and the higher appraisal.

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