Homestyle loan? Who's experienced? Can u BRRRR with it?(in INDY)

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Hey ok, so I'm an OOS investor. Home base is Boston (Somerville) and but mostly investing in Indianapolis. I'd love to hear from everyone/ anyone who has experience with the Homestyle loan product!!! Quick Indy background: Have a great team already. Great Agent, PM, and some good loan officer options, including one that even is willing to try a Homestyle loan (but although they will do it they don't have personal investing experience using it). Have 2 SFH's in Indy already so I know the neighborhoods and I want to try to use the Homestyle loan to pull of a BRRRR of sorts in Indianapolis. It seems like I should be able to do that with this product if I'm able to get a decent contractor, right? What I'm missing is being able to talk to anyone who has actually done this?!?!

Seems like this product would be perfect BRRRR'ing- a rehab loan that investors can use-  but I can't find a single success story on Bigger Pockets about it from anyone who isn't an owner occupier.  And I've read all the threads.  My problem is that I can understand how to traditionally BRRRR (although I haven't done it yet), but I just can't seem to fully wrap my head around how to pull it off with all of the moving pieces- from purchase -to rehab- to the refi'ing out of it. 

Seems like it should work so why there aren't any success stories about it? I know Bigger Pockets has a guide about it even but it doesn't really talk about to actually use it to invest. I want to start to BRRRR in Indy but I don't have the full 100K-ish in cash needed to start so I wanted to explore this "shortcut" (not interested in using hard money). Also I really value everyone's time and happy to compensate if you can share your knowledge either here or via PM. Thank you so much for your time!

It does not! It’s for investors too up to 4 units which is why I’m very interested in it...

Hey @C-Dell J. no I had no luck but also I've just decided to go the old fashioned route.  The truth is that finding a decent contractor is next to impossible anyways so trying to get them to be ok with some highly structured draw schedule... and then having a seller accept an offer with a weird rehab loan... seemed good in theory but I realized it is so easier to just go traditional.