BRRRR with private money lender

[Will Payne]

Hello!

I am wanting to get some input on a deal that I am working on right now. Found a great deal I intend to BRRRR. I have secured private money. The property is a small condo that definitely needs some work but not a total but job. I have run the numbers and they look great! My question is when I finish the remodel within 3 months and get it rented how quickly can expect a bank to issue a cash out refi? At this point I would pay my private money lender back and move on to the next deal! Thanks for your input!

[Kenneth Garrett]

@Will Payne

I agree with @Jeff Copeland condos have many restrictions. Some limit how many can be rented. Read the bylaws for any unusual requirements. Don't forget HOA fees. Contact your lender in advance to make sure they are good to go.