Is there a time frame to refi using the BRRR strategy?

Is there a time frame to refi using the BRRR strategy?

Passaic, NJ · Member since 2018 · 8 posts · 0 votes

Hello! Looking to start investing using the BRRR Strategy. Is there a time frame to wait until you refi on that property??

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  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    8y

    Assuming you aren't a cash buyer, six months is the standard wait. Most first-timers can't turn a property around that fast anyways (in spite of their rosy projections), so it's typically a non-issue.

  • Dawn BrenengenBusiness Member
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    Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
    8y

    I don't think there is a standard across all lenders, but it's usually six months.  You can probably find a lender with no waiting period at all as well, though.

  • Passaic, NJ · Member since 2018 · 8 posts · 0 votes
    8y

    Thank you Dawn and Chris. I assumed that most lenders will require at least 12 months. 

  • Lender · Los Angeles, CA · Member since 2015 · 184 posts · 92 votes
    8y

    @Elizabeth Tiburcio - Typically 6 months is the norm for conventional refi's. The alternative to that is you could reach out to some of your smaller local banks and one of them may be able to refi faster than the 6 month time frame. 

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