Buy Renovate Rent Refinance Repeat

[Shedrick Archangel]

During the buy renovation rent refinance and repeat(BRRRR) process, when is the best time to approach a lender to refinance your house? Also, can any someone recommend a lender

[Eric Mayer]

@Shedrick Archangel You will still have to wait six months if you want to use a new appraised value for a conventional loan. If you need money sooner, you can do what’s called delayed financing, but the amount financed will be based off the purchase price. 

You can get around this somewhat the next time around if you add the rehab costs to the hud statement. You will have to disperse that money in full at closing though. This way when you immediately do delayed financing, it will be based off the purchase and renovation costs.