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Updated 1 day ago on . Most recent reply

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Ryan Mcintosh
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help with the BRRRR method

Ryan Mcintosh
Posted

I have a few rental properties already. We just bought two houses on one lot after using a heloc on our primary residence. When we did the heloc we reached out to everyone (credit union, loan companies, etc) and was told that was the only option available. We already had a single-family investment property prior to this new multifamily purchase and was told there was no option to use that properties equity. now we have renovated this multifamily property and wanted to use that equity to purchase another property. We reached out to everyone again and are being told we can only use a heloc on the primary, and can't refinance until a year. We already have a heloc on the primary so that is not an option. How are people using the brrr method or who are they going through to allow them to immediately refinance and use the equity? I would appreciate any guidance to help scale up our rental portfolio. Thanks everyone.

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Ryan Mcintosh
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Ryan Mcintosh
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Property 1. Lathrop ca. value 475k. Loan 320k  owned since 2016

Property 2 Manteca ca primary home. Value 700k. Loan 615k. Heloc 56k. Owned since 2022 

Property 3. Modesto ca. two homes one lot. Value 500k. Loan 300k. Owned since 02/25

Property 3 was just purchased with the heloc from property 2. 

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