Updated almost 5 years ago on . Most recent reply
How did you get a 80/20 refinancing?
Hi Friends! I have talked with a hand full of lenders about refinancing a BRRR (Property that I bought with a business partner to Buy Rehab Rent Repeat). A lot of the lenders I know through being an agent are telling me they can only offer 70/30. What did you do to convince your lender or find the right lender to find a 80/20 refinance for the BRRR method?
Most Popular Reply
@Frank Wong LOL Those were almost the exact words I was going to use.
@Macall Smith 70/30 will be set by policy so no matter how good you are at sales, you are just banging your head against a wall.
Most Realtors just focus on owner occupants. The people they know and the banks they know never worry about BRRRR. You need to talk to people who know investment real estate and investment financing.
In Michigan, I've used Mortgage One. They've done a couple of tough transactions for me. I've worked with Walter Tyslicki out of Melvindale, MI