Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

6
Posts
1
Votes
Andrew Wiseman
  • Rental Property Investor
  • Payson, IL
1
Votes |
6
Posts

I'm Stuck on the Refinance on my BRRRR.

Andrew Wiseman
  • Rental Property Investor
  • Payson, IL
Posted

Back in August I bought my very first property. I was able to do this by taking out a Home Equity Line of Credit on my personal house for $30,000 and some credit cards.  I paid 10,000 for the house and another 25,000 for the rehab. I have the house rehabbed and rented for $750/mo and now I am trying to get it refinanced so I can pull my cash back out and do it again. The appraisal should come back around $75,000. When I go the the bank I am told that my debt to income is to high. Do I need to just keep looking with different banks, or is there another option?

  • Andrew Wiseman
  • Loading replies...