What exactly is refinancing and how does work when you BRRRR
BP!!!
I'm having trouble grasping the refinance part of the BRRRR strategy.
I’m working on my 3rd deal, and I’m going to see if a hard money refinance strategy would work. The only issue is I am having trouble understanding the refi part and I have listened to 2/3 of the podcasts. Lol
If I purchase a property for 100k and after rehab it is worth 200k, how do I refinance and how does it work?
Not real numbers, just using simple numbers to help me understand.