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Updated almost 6 years ago on . Most recent reply

Tricia Miller's profile image
Tricia Miller's profile image
Tricia Miller
  • Real Estate Agent
  • from Suffolk, VA
  • Member since Mar 1, 2019
  • Posts 17
  • Votes 11
  • Experience 6 Yrs
  • Investments 3
Connect

User Stats

17
Posts
11
Votes
Tricia Miller's profile image
Tricia Miller's profile image
Tricia Miller
  • Real Estate Agent
  • from Suffolk, VA
  • Member since Mar 1, 2019
  • Posts 17
  • Votes 11
  • Experience 6 Yrs
  • Investments 3
Connect
Tricia Miller
  • Real Estate Agent
  • Suffolk, VA
11
Votes |
17
Posts
Creative Real Estate Financing

Refinance part of BRRR strategy

Tricia Miller
  • Real Estate Agent
  • Suffolk, VA
Posted

Just got off the phone with a lender who said they would not give 75% of appraised value on a rehab, but would only give 75% of purchase price + rehab so that I would still have skin in the game. This would ruin the BRRR strategy as it leaves original money in the house. Anyone else run into this? Is this typical or just look for another bank? Also, this was on a commercial loan as I am placing property into an LLC. Help?

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