Updated about 8 years ago on . Most recent reply
Question about BRRRR strategy
My plan is to buy a property cash approximately $40k-60k range requiring about $25k-30k worth of rehab with an ARV of approximately $115k once work is complete. Monthly rent in the area I am searching is $1050-1200. That being said after that is complete and I have a tennant, at what point do I get a reappraisal to set up for refinancing, before or after landing a tennant? I understand that most banks willl only give 70% ARV, being that I'm buying the first property cash would this be considered a home equity loan?