Buying my first BRRRR in South Bend

[Sean Julian]

I close on my first BRRRR in a couple of weeks and it's in South Bend. I have a great realtor, a contractor, and property manager. What I'm lacking is the "refi" part. If the loan was going to be over $100K no problem. But, the house I found won't even hit the $100K mark let alone the loan amount being $100K. I did find someone that will refi after 6 months if the house price appreciates and will do a loan for $50,000.

Does anyone have a solution for this low house value part of the BRRRR to make refi happen sooner than 6 months? I almost feel like this market is better for low end flips or buy and hold with no cash back like the BRRRR gets you. Thoughts?

[Sean Julian]

@Moises R Cosme

This is my first property. I'm a little shy to do a HELOC on our primary with our first property. I kind of want to make sure I don't mess up before putting our own home in financial jeopardy. 😀