Hey fellow bigger pocket members!
I am in the market to purchase a fixer upper / foreclosure cash. Here's the facts:
I plan to cash out-refi or pull a HELOC out of a single family I own free and clear and use some of my own cash to buy the property, rehab and rent the property. However, I'm planning to switch from LEO to a real estate agent in the next few months.
When it comes to refinancing, do the same rules apply to qualify as far as providing tax documentation and pay stubs ? Would the cash flow Im producing be enough to qualify for a refinance?
My fear is that I'll have all of my money tied up in this BRR while I wait for two years to pass by to establish a steady pay history.
Is there a way around this?