Updated about 9 years ago on . Most recent reply
BRRR Strategy questions
Hi , have 5 properties free and clear , just refinanced them received about 350,000 I would like to buy as many properties is possible in the next year in my market using the BRRR formula my issue is that the lenders I know of all want one year from the time of purchase to refinance a rental based of the market value. otherwise they want to use purchase price plus repair costs . and I only do 70% LTV , is there a way around it ,
I know some people say they rehab a home put renters in for 2 months and refinance , but how do they go around the issue, are there any lenders you know off that will do that?
Otherwise I will eventually run out of cash as I am refinancing at 30% less than I spent.
I would appreciate any advice and tips.