Executing the 3rd R in BRRRR?
We now own a total of 7 rental units comprised of 3 duplexes and one single family. Our last two purchaces were bought using funds from a private investor. Although both parties are happy with the agreement (payments and interest) we would like to pull our equity in these two properties to keep building our portfolio.
Everyone makes it seem so easy to pull this equity out. The question is, how do you refinance without paying a boat load in closing cost? We cant seem to find a bank that will do a HELOC on an icome property, or one that will refi without going through the entire closing process all over again.
Any ideas, tips or tricks? I have my eye on multiple deals and cant seem to access my equity.