BRRR concept --start with 203K loan and re-fi to conventional
The 203k seems like it fits, but i can only have 1 FHA loan at a time (i think), which means i have to refinance and convert this 203k FHA to a conventional loan. I think this strategy will allow me to build my multifamily business, does that make sense?
The only thing is that when i refinance into conventional loans means i have to put 20% down, correct and have PMI? Isn't 20% to much to put down on a deal? this would allow me to work alone and not need any private money, for now.