Has anyone used MoFin Lending to finance BRRRR?

Question

I was able to pay cash for my first 3 SFH rentals Looking at financing options for BRRRR. I live and invest in Mesa, Arizona.

Allison Davis · Answer

Thanks George! Please update me when you’re able to work in AZ.

George Despotopoulos · Answer

Hey @Allison Davis -- we've worked with a bunch of BiggerPockets members, hopefully they see this and chime in! But to give you some info, we currently do not lend in AZ. We do have plans to in the near future though, so hopefully we do some business with you in the future :).

Sergey Tkachev · Answer

Thank you for the clarification!

Allison Davis · Answer

@Sergey TkachevThank you for your response. The property won’t be ready to rent out until March 1st. Since I’ve never refinanced any of y investment properties I’m looking into the options.

Sergey Tkachev · Answer

If you are at the end of the BRRRR process (meaning you already purchased, rehabbed, rented the property and can show some history of income it produces) then technically you can refinance with a wide range of lenders, just like you would any other property.

Allison Davis · Answer

@Stephen MahlerThanks for your response Stephen. I’ve thought about  using a HELOC. (Not sure what my x-tra R stands for:-/

Stephen Mahler · Answer

@Allison Davis never heard of them but would love to hear if anyone has had success with them or another lender to finance a brrr.

I personally have used a heloc to fund my first 3 properties but want to grow quicker