Updated over 7 years ago on . Most recent reply
BRRRR Refinance Stage
I recently got a duplex under contract for 27K. It needs about 7K to fix up. But it can cash flow $900-1000/mo. I plan to use private lender money to fund this whole deal. My concern is mainly at refinance stage. What if I don't get whole 34K from the bank? What criteria does bank look for on refinancing this kind of cash flow property usually?