While doing some searches for investment loans I️ ran across this. Seems like you can use this for a BRRR strategy. Has anyone had experience with this loan or have an opinion on it?
Curious why you'd want to do this for that that, planning on a refi?
Yes, if this loan is easy to get and can be amortized at 30 years with that interest rate it could provide good cash flow and after you rehab or the property appreciates you could refi out to a 30 year or 15 year fixed.
I'm not really up to speed on the shorter loans, but what would the benefit be of this? All loans basically the same difficulty to get and more or less all require the same amount down. The rates for this aren't that much lower than a 30 yr, granted depending on the purchase you make and how much forced appreciation/rehab you have could make a impact. But, seasoning only 6-1 yr before you can do a cash out refi...
I look at the safety of a 30 yr just incase something happened you wouldn't have to depend on a refi... But not totally up to speed on the advantage of 10yr/balloon.
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