When you use BRRRR, what kind of loan do you get? I have been asking different banks and loan offices. They all give me a high interest rate 4.75 or above for business loan after they heard me say it is a investment property. Seasoning time is different 6-12m. But the interest rate is too high to leave any cash flow. Would anyone tell me what do you tell them when you getting a loan for refinance? Thanks!
Mortgage Broker · Dallas, TX · Member since 2017 · 657 posts · 275 votes
6y
@Lijuan Wei sounds like you need to find better deals. 4.75% on a investment is not high at all. I sell 5.875-7.5% rates all the time for buy and hold investors. Granted these are no doc loans, but still they cash flow.