Best option to refinance using the BRRRR Method
Our team intends to start acquiring properties using the BRRRR method, using our cash up front for the buy and rehab, then refinance with a lender. We have listened to many podcasts where investors are confident that they can pull 75-80% cash from the reappraisal value through refinancing. We're having trouble getting a lender to commit to this percentage. The options we have to refinance is a Home Equity Line of Credit which would allow us to pull 60% loan to value at about a 2.875% floating interest rate or refinancing as an investment property for a higher interest rate about 4.5-6.0% and only being able to pull out 70% loan to value cash out of the deal. People that we have listened to on the podcast make this process sound much simpler and seem to gain more value when they make the refinance deal with their lender. We are looking for advice to get the most out of the refinance as possible at the best rate. Your help is much appreciated.