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Updated about 5 years ago on . Most recent reply

Gregory Schwartz's profile image
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Gregory Schwartz
  • Rental Property Investor
  • from College Station, TX
  • Member since Nov 11, 2016
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Gregory Schwartz's profile image
Gregory Schwartz's profile image
Gregory Schwartz
  • Rental Property Investor
  • from College Station, TX
  • Member since Nov 11, 2016
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Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Refinancing a "cheap house"

Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
Posted

I'm lining up my first true BRRRR. The asking price is $40k and I'm looking to make a $30k cash offer. Rent should be between $700-800/month. To make this deal work I would want to refinance $37k out (about 60% LTC). What are you all seeing for terms on these "cheaper" mortgages? I'd like to see at least 25-year amortization and under 6%.

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