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Updated over 1 year ago on . Most recent reply

Cody Greenawald's profile image
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Cody Greenawald
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Cody Greenawald
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Having trouble refinancing

Cody Greenawald
Posted

Have trouble refinancing a property appraised lower then expect at 65k can’t seem to find a lender who will touch it I don’t have a mortgage currently on the property. Need the cash to brrr  this is my first rental property is currently occupied any help

Columbus, Ohio
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Matthew Crivelli's profile image
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Matthew Crivelli
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Matthew Crivelli
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Matthew Crivelli
  • Lender
  • Massachusetts
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Matthew Crivelli
  • Lender
  • Massachusetts
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@Cody Greenawald

Sell the property. It's almost impossible to get a 30Y loan if the value is 65k. Let this be a learning moment, only buy houses that will appraise for at least 100k after the repairs are completed. 

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