Multiple exit strategies

[Jacob Patterson]

I have a question about refinancing in the event a flip doesn't go as planned. I currently am just about to start a fix and flip and wanted to look into other exit options. My question is if I buy, renovate, and find a tenant will I be able to refinance the home just based on that rental contract? I'm just starting out and I do not have a steady income. I do know that the bank usually wants to see a steady income to refinance but I wasn't sure if having the home rented changes anything. I do own another home outright that I currently live in but that isn't making me any income.