Refinancing out of a BRRRR property

[Douglas A Lewis]

Does the refinancing phase really mean refinancing from the banks point of view or is it considered a new mortgage?

[Anthony W.]

@Douglas A Lewis yes that part of the phase is refinancing and it means conducting a new mortgage. This part should not mean much to you because if you have completed the steps correctly you will already have a renter in place. If you are not aware but I'm sure you are as you understand BRRRR but this is for anyone who reads this, this part of the phase is to pull that same money invested into the property out and pay off any hard money (which is usually expensive) or any other sources of money used and continue on with the same capital on the next deal. Refinancing usually provides a better interest rate than any money that you may have used. Hope this helps.