Private Lending & Conventional Mortgage Advice

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Chase Tate
  • Real Estate Agent
  • Orlando, FL
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Tricky BRRR Financing situation

Chase Tate
  • Real Estate Agent
  • Orlando, FL
Posted Jul 8 2019, 10:10

So I am looking to buy a wholesale deal I have it under contract with 7 days due dillegence to figure everything out. I want to BRR the property but I have some unknowns. The property is 7 units on three parcels of land all right next to each other. I was planning on buying them with hard money and refinincing out of them. I am wondering how a lender on the refinance will handle it because on the purchase side I am buying all three for one price. Will the lender on the refinance appraise them all seperate? Will I have to assign values to each parcel when I close? Should I attempt to conjoin the lots? Also wondering what the best way to approach the deal is on the ARV side of things as the comps are weak but the cash flow makes a lot of sense and I see upside in rental comps.

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