Updated over 8 years ago on . Most recent reply
The BRRR Strategy for the unemployed (er.. retired crowd)
Quit my job 3 months ago & am doing real estate deals full time. (thank you, thank you as I take my bow)
The majority of the rentals I have were put into the mix 6 months ago. (although I have 2 that are 2 yrs old)
The lenders I've spoken said they need to see 1 year of P&L on all these rentals - as I would need to fully qualify on the passive income they produce... before I can qualify to do a "cash out refinance" on any of the properties.
Does this sound about right to everyone?
Perhaps there might be "direct/portfolio lender" out there with different guidelines?