Updated over 4 years ago on . Most recent reply
Have you done a Bridge to Brrrrr?
Giving it some thought at the moment. Situation: 2 assets bought right. $50,000k HML owed on 1, value is minimum 100k. Other asset is at 128k owed, value is 200k.
In both cases, I would want to refi from a bridge loan into a 30yr and would prefer non-doc / low doc lenders non-qm etc…both have projects that are going longer than anticipated, short term hard money type loans coming due, and I’d like to just pay off the hard money to get that off my back. I wouldn’t hate also getting liquidity in place for the next brrr….
So I am wondering if anyone has used a bridge loan but also inside the context of a brrrr and if that made sense for you. I suppose it would be a B-B-RRRRR…maybe a new term? Ha. TIA.