BRRRR - Refinance Prior to Renting?
Hello All!
I am considering as a first time buyer to utilize the BRRRR method on my personal home, while also using a 203K loan to finance and rehab the property. My goal is to obtain a property requiring rehab while living in the same property for the first 12-18 months. However, in order to move out and continue investing I would require the refinance of the "BRRRR" method prior to the rent of the property to obtain additional funds for my next property and to move out. I wanted to get thoughts on if anyone has had experience performing a refinance prior to renting a property while utilizing BRRRR? If this is possible, the question would be can you find success on a refinance following rehab, and utilize projected rent as part of the refinance? What are the common hurdles in this approach, appraisal without renter?