Updated about 2 hours ago on . Most recent reply
Question about brrrr
can I do the refinance process to get my down payment during the Rheab project?? I can get aprizel for arv during the Rheab? I heard someone did and get his money during the Rheab he pay for aprizel and then refinance before he finished the Rheab.. ty
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Yakir Aloni the entire concept of the BRRRR Method is so that you don't have a downpayment. It might be hard to guess at this in a forum setting but if you are being required to have a downpayment then either the deal is not structured correctly, the lender isn't the type of lender we want to work with, or you are paying too much for the deal.
Now, if you are coming out of pocket $5k...that's fine. But that's not a downpayment. If you are being required to bring 20% or 25% down....that's NOT fine. That's a downpayment. That's what we are trying to avoid with the BRRRR Method. Hope this makes sense.