Any good/bad BRRRR Refi Stories?

[Joe Delgrosso]

Hello there!

I currently have 5 rental condos that are doing well but it's slow moving to save/buy at this pace so getting ready for my first BRRRR. Studying like crazy while I secure the money.

I keep reading that it's all about the refi. Any good or bad stories anyone can share? Important things you wish you knew before you took on a single family BRRRR?

Thanks BP!

Joe

[Todd Rasmussen]

@Joe Delgrosso

About a million, hard to pick a couple. Focus on buying right. It's the biggest factor.

Lenders know what they are doing. If you hit problems at the refi step, it's only because you overpaid or went into the lending process naive.

Talk to lenders now, know that you will qualify. Protect your credit score by limiting hard credit inquiries and any new debt.

Build a system for tracking leads. You have to generate leads and offers in volume because BRRR strategy requires the biggest margin of any strategy. Every flipper and buy and hold investor can sacrifice more margin than you can. (They shouldn't, but they will)