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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 5 years ago on . Most recent reply

User Stats

64
Posts
33
Votes
Thomas Magill
  • Investor
  • Charlotte, NC
33
Votes |
64
Posts

I completed a BRRRR and want to refi the fourplex, suggestions?

Thomas Magill
  • Investor
  • Charlotte, NC
Posted

I purchased, renovated, rented, and now I'm looking to refinance the property.  I'm looking for suggestions on banking institutions, lending terms I should be looking for (30 yr fixed, 25 yr because its a partnership), typical interest rates, etc. 

I purchased the property in a partnership with my LLC and a partners LLC. I'm stating this in case it will impact the financing.

Any help with this question will be greatly appreciated.

P.S. technically I only completed BRR, I'm looking to do the next two RR's

  • Thomas Magill
  • Most Popular Reply

    User Stats

    21
    Posts
    9
    Votes
    John Krause
    • Lender
    • Hartford, CT
    9
    Votes |
    21
    Posts
    John Krause
    • Lender
    • Hartford, CT
    Replied

    @Thomas Magill I would say you will be looking for a commercial loan that will allow it to stay in the LLC. Rates and LTV's will vary based on credit score, experience etc. You can get a 30 yr fixed though! I'd say rates will be somewhere between high 5's to mid 7's depending upon the lender and your specific scenario.

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