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Private Lending & Conventional Mortgage Advice

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Maricruz Romero
  • Accountant
  • New York, NY
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40
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Refinancing properties under 100k

Maricruz Romero
  • Accountant
  • New York, NY
Posted Oct 5 2019, 17:45

Hi BP!

I am looking into a deal for which the ARV is less than $100k, I am estimating $55k to $65k based on MLS comps. I am looking to implement the BRRR strategy so buy it cash and refinance once its rehabbed and rented. Has anyone refinanced a property that appraised under 100k? How difficult was it to get a loan of this amount and what lenders should I approach to confirm they would lend on this property?

Thanks!

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