Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

427
Posts
286
Votes
Tyler Lingle
  • Real Estate Consultant
  • Indianapolis, IN
286
Votes |
427
Posts

First time refinancing a rental

Tyler Lingle
  • Real Estate Consultant
  • Indianapolis, IN
Posted

Hey BP, 

This will be my first time refinancing. I bought my SFR 2/1 rental in September for 79k and I'm hoping to refinance in March / April. I wanted to do what I call a "hybrid BRRRR" and basically get as much of my initial downpayment back as possible. I bought in cash using friends and family private money, as well as a good chunk of my own.

My questions: 

I want to get my 79k PP to Appraise for 100k. I'm planning on doing some updates in the bathroom as well as adding in Central AC, which it does not have. Tips for getting the home to appraise for as much as possible? 

Is leaving 25% in the deal fairly normal? Anyone have experience refinancing while only leaving 20% in? 

Any lender recommendations that are friendly to investors refinancing? I live in Urban Indianapolis. 

business profile image
Roots Realty Co.
5.0 stars
45 Reviews

Loading replies...