BRRRR - The Refinance R- Let’s talk
I'm assuming if you're reading this post you already know what the BRRRR method is (Buy, Rehab, Rent, Refinance, Repeat). I am wanting to discuss the Refinance R. I have listened to a podcast or two about this method and read a few blogs, but I don't feel like I've gotten all of the details.
After buying, rehabbing (if needed), and renting then it’s time to refinance. My question is fairly simple : Where does this money come from and how does it work? Is a bank giving you money based off the equity on the home? The total value of the home?
Getting started in REI is slightly intimidating to be honest, so I want to make sure I am confident with my knowledge and know what my game plan is.
Thank you for your time,
Daniel C.