Hi all, With interest rates going through the roof are folks still able to refi smaller non-owner occupied properties? Would love to hear from folks who are just starting on projects now. Thanks!

@John Anderson short answer... yes. I'm not as worried about cash flow as long as the property pays for itself - the wealth is in the equity, the value increase from doing the project and then the mortgage paydown.

It’s really just a question of whether the numbers make sense. It’s not like the lenders won’t write the loan… the bigger question is do you want to cash out refi a property in a high interest rate environment. The refi is going to cost you maybe $3-6k in fees / taxes / etc… then you are going to lock yourself into a much higher payment - refinancing at probably 7% interest at the moment. It’s not a smart move in most cases… but if the cash out let’s you buy an amazing new property that offsets the expenses of the refi or accomplishes some necessary action, maybe it’s worth it? We’re sitting out for the moment though. You might alternatively look for a lender that would do a heloc for you… in the short term your rate would be lower for sure. All the best Randy

Are folks still able to BRRR with current interest rates?

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Are folks still able to BRRR with current interest rates?

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