How to refinance a property that has been "BRRR"er
Property was paid for cash, repairs were made reappraisal is required, Is there a special way to refinance or to pull out equity to re-invest again? I am stuck and am running out of hard cash to repeat the process again. I know majority of investors do not buy for cash, in my case I did and it turned out great, However I'm just looking for a "Correct" way to pull out equity since it is not my primary source of residence. To make things better the local banks changed all their rules for post covid investment refinances.
I know I can sell, then once sold use that cash to reinvest and purchase again, but there is a smarter way to leverage your equity for your own benefit. I hope some of you guys out there can relate, cuz it seems like a make it or break it moment for me.
Most Popular Reply
You’re talking to the wrong banks. The smaller the better, think credit unions and local banks with less than 10 branches. The key is finding banks that service their loans and not sell them on the secondary market.