All Forum Posts by: Ilan Tamir

Hi Forum,

I currently have a portfolio of long-term rental properties in the Nashville area, and I want to explore expanding to Rochester, MN, potentially getting into mid-term rentals near the Mayo Clinic. 

I’m looking for connections with local property managers and realtors as well as for general information on the Rochester rental market, including cost-to-rent ratios, saturation levels, and regulations. I hope you can provide me with information that will help me in my research.

Thank you!

Thanks @Andrew Syrios!

What about getting the line of credit from my bank, use it to pay for the purchase and rehab, and then go to a different bank and do LTV cash out financing?

In this case the second bank looks at the transaction as if I made a cash purchase which should qualify for cash out loan without seasoning period.

Make sense?

Thanks

I just learned that unlike hard money, if I use line of credit to purchase a house, there is no seasoning period before I can refinance the house with conventional loan. What's the pros and cons for using line of credit for BRRRR instead of hard money?

Thanks!