REFINANCE TIPS for 1st BRRRR?

[Courtney Rollins]

Hi all, I am at the finish line for my first BRRRR in Baltimore, MD. Any tips on preparing for the refinance? I have:

• List of banks and financial institutions along with connections and relationships made with several
• Business plan
• Profit and loss statement
• Property documents
• Rental lease
• SOW with itemized list and cost of repairs done
• MLS comparable sales

I want to be as prepared as possible and show myself as a solid and reliable partner as well as help the appraisal come back strong. Thanks for listening!

[Elvin Tolentino]

Everyone here has given great advice. I would also mention that you need to know if your lender does refinancing, if they have a seasoning period (if so, how long) and the percentage of LTV they are willing give you. This needs to be known and clear to all parties PRIOR to purchasing the property.