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Timothy Doenges
Pro Member
  • Real Estate Agent
  • Mount Nebo, WV
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174
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Refinancing a BRRRR Properry with ARV Under $75,000

Timothy Doenges
Pro Member
  • Real Estate Agent
  • Mount Nebo, WV
Posted May 7 2019, 18:12

Title says it. I've called 5-10 local banks and asked about residential refinances, and everyone is saying they can't refinance properties under $75k ARV. I have a 2/1, 900sqft rental in B-/C+ neighborhood that has an appraised value of $60k with almost everything new. All the properties in the neighborhood are of similar size, condition, and value. I'm at that critical Refinance point on my property, but I can't find a lender to service a property at my value point. Any pointers on how to execute the Refinance step on such a property?

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