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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 3 years ago on . Most recent reply

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John Carbone
  • Rental Property Investor
  • Gatlinburg
957
Votes |
1,091
Posts

Refinancing low credit score

John Carbone
  • Rental Property Investor
  • Gatlinburg
Posted

What happens if you start a brrrr and use 0 percent cc for the rehab materials causing credit score to decline from high utilization rate? I assume need to pay the cards off and won’t be able to refi and pull the money out?

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356
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190
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Eric Goldman
  • Lender
  • Pennsylvania
190
Votes |
356
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Eric Goldman
  • Lender
  • Pennsylvania
Replied

@Andrew Postell hit the nail on the head. you can also get a line of credit. If its a small rehab and you want to use your cards to get miles, or what ever that's one thing. but it will drag your score down.

  • Eric Goldman
  • 484-574-4878
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