BRRRR-REFI guidance request

Albany, New York
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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BRRRR-REFI guidance request

Carlos PelegrinaPro Member
Investor · New York City, NY · Member since 2017 · 119 posts · 35 votes

Hi Guys. I am finishing a three-apartment unit renovation, and I am starting to look for a lender to refinance it long-term.
I am looking for investors' experiences with refinancing. Any suggestions for companies you had a wonderful experience with? Any strategy: REFI, DSCR, HELOC? Is there any way to get a rate below 7% that you would suggest? I would appreciate any help and guidance on this.

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  • Connor MaynerBusiness Member
    Lender · Sarasota, FL · Member since 2026 · 5 posts · 0 votes
    1d

    Hi Carlos, congrats on wrapping up the reno. Just so you know, rates below 7% don't exist right now unless you buy down the rate. Your rate depends largely on your LTV, credit score and DSCR. Purchases get the lowest pricing, then rate-and-term refis, and cash-out refis price higher than both.

    I own Ocean Coast Mortgage, a brokerage that arranges business-purpose investment loans, and we have solutions for refinancing a finished BRRRR into a long-term DSCR loan. I can send over a quote sheet showing your options across prepay structures. Let's connect and set up a quick call.

    Connor

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  • Irv ArreolaPro Member
    Lender · Los Angeles CA · Member since 2026 · 57 posts · 9 votes
    1d

    Congrats on getting the three units across the finish line. Cash out on a rental like this mostly comes down to the rent on all three apartments versus the new payment, plus your credit tier and how much equity you leave in, and that's also what moves the rate.

    Are the units leased yet, or are you still placing tenants?

    [email protected]424-599-0402
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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 672 posts · 238 votes
    1d
    Quote from @Carlos Pelegrina:

    Hi Guys. I am finishing a three-apartment unit renovation, and I am starting to look for a lender to refinance it long-term.
    I am looking for investors' experiences with refinancing. Any suggestions for companies you had a wonderful experience with? Any strategy: REFI, DSCR, HELOC? Is there any way to get a rate below 7% that you would suggest? I would appreciate any help and guidance on this.

    @Carlos Pelegrina, congrats on getting close to finishing the renovation! I'd compare a few lenders and look beyond the interest rate. A rate below 7% would be great, but I'd also want to understand the closing costs, prepayment penalties, and other loan terms before deciding. The best option really depends on your plans for the property and how long you intend to keep it.

    I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property transactions, contracts, and title matters. I've seen how important it is to review the details before moving forward with a transaction, especially when there are existing loans or ownership issues to consider.

    Thanks for sharing this, @Carlos Pelegrina! Refinancing after a renovation is an important step, and I hope you find an option that works well for your property. Happy to stay connected!

    [email protected]240-266-0291
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  • Ryan BakerBusiness Member
    Lender · Strongsville / Cleveland, OH · Member since 2026 · 83 posts · 14 votes
    1d

    Carlos, on a three-unit that's finished and leased, a DSCR refinance is usually the cleanest route, and a conventional-style refi can work too if you're comfortable with owner-occupancy rules. The big levers are lease-up before the appraisal, your credit tier, how much equity you leave in, and the prepay structure, so compare the full term sheet and closing costs instead of just the headline number. A buy-down can bring the payment down if you plan to hold long term, but run the break-even before you pay for it. A HELOC is more flexible but variable, so I'd only use it as a bridge. Happy to walk through the numbers on a quick call, my direct line and email are on my profile.

    (Drafted with AI assistance.)

    [email protected]330-548-3340
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  • Tyler MccleanPro Member
    Investor · Nassau County, NY · Member since 2022 · 99 posts · 26 votes
    1d

    Hey Carlos, in today's market unfortunately there is no scenario that would land anyone under 7% for a dscr or heloc without paying discount points and a 5 year prepay. FHA would be the only realistic way to achieve that, but you must occupy one of the units, and be able to document the income to qualify.

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  • Matthew MorrowBusiness Member
    Investor · PA - NY - NJ · Member since 2019 · 916 posts · 319 votes
    14h

    @Carlos Pelegrina the lenders covered the rate side, so here's the investor side. Most of what I've built was BRRRR, and the refi only worked when the numbers already worked at the rate I could actually get. Run your rents against today's payment, and if it still cash flows, a better rate later is a bonus. Have the units leased and your receipts and before and after photos ready before the appraiser walks in, since that's what drives your loan amount. A local bank or credit union is worth a call too. Some hold small multifamily loans themselves.

    [email protected]484-791-6200
    CORE Team | Realty ONE Group Supreme548 Reviews
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