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Updated over 9 years ago on . Most recent reply

Andres Piedra's profile image
Andres Piedra's profile image
Andres Piedra
  • Involved In Real Estate
  • from Potomac Falls, VA
  • Member since Nov 3, 2012

User Stats

203
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31
Votes
Andres Piedra's profile image
Andres Piedra's profile image
Andres Piedra
  • Involved In Real Estate
  • from Potomac Falls, VA
  • Member since Nov 3, 2012
Andres Piedra
  • Involved In Real Estate
  • Potomac Falls, VA
31
Votes |
203
Posts
Private Lending & Conventional Mortgage Advice

Cash Out Refinance After Rehab

Andres Piedra
  • Involved In Real Estate
  • Potomac Falls, VA
Posted

Just bought a house today for $75,000 cash. Putting in about $30,000. ARV is around $140k. I plan to rent this......trying my first BRRR (Buy, Rehab, Rent, Refi). Does anyone have very recent experience doing this? What are the banks able to do? How soon can I pull out the full $105,000 cash I initially put in ($75k purchase price + $30k renovation).

Any insight on this is greatly appreciated. I would really dig the 75% to 85% of appraised value option cash out refinance option, if that is still a thing. 

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