I'd like to apply to BRRRR method in Portugal but I'm struggling to understand how to do the refinance part. Unlike the US banking in Portugal is consolidated in a few banks which means that things that are common in the US like credit unions or local lenders are not found there.
Has anyone had experience in doing BRRRR with Portuguese lenders?
I have the exact same question
Let me know if you have any information about that, i will do as well
Do you know if the major banks are usually happy to do this? So for the buy and rehab steps, is the best strategy is to find an alternative lender (or use cash)? Any advice or places you can point me to would be greatly appreciated!
No worries. It'd be a hipoteca. Yes, they should be happy to do it and yes, you'll have to find alternative solutions for the buy and rehab.
Thank you for the valuable information @Mike Lambert
Aside from banks, is there other institutions we could get the refinance faster here in Portugal?
You're welcome. Normally speaking, only banks give long term financing. You'd have to find a private lender to give you a bridge loan.
Thank you @Mike Lambert i really appreciate your help!