With a line of credit1. you are more flexible, and dont pay interest if you arent using the money2. usually pay less fees up front3. usually get processed faster4. can usually get interest only paymentsCons  1. they usually have floating interest rates2. technically the bank can take the money back if something happens and the money is in your account, such as a market collapse3. they usually are on 3-5 year terms, so you need a plan to pay them back by then For a Refi1. we have record low interest rates right now, you can borrow money and lock that in for the next 15-30 years. 2. repayment terms are spread over 15-30 years3. fixed interest ratescons1. higher closing costs up front2. you are always paying interest on the moneya lot depends on outside factors.

That are also unique to you. 

Finally in 2012 I got my real estate license.My background gives me a very unique view on real estate while working with my clients. 

And get a repayment agreement.

We have renovated unique spaces into class A medical. 

I've seen the bank statement loans that don't require tax returns but you still have to show income and ability to repay the loan which I thought was a Dodd Frank regulation for owner occupied properties.

Lenders want stability and history to demonstrate your ability to repay.2: Debt to income ratio. 

Working on a deal to take a parcel with a single family dwelling on it and converting it to 6 individual rentals, with a cool and unique vibe all centered around a central lawn / courtyard, a rear garden, and positive energy producing through abundant solar array and high efficiency fixtures, appliances, and strategies.

At my current phase, I am building my education, building the capital, team, and plan/strategy and looking on pulling the trigger in 2022.I’m in a currently unique position.  

I am fairly new to starting my strategy of BRRRR and I have an important question. Can you use BRRRR on a property that you own out right. If so then call me a beginner but how can you refinance a property if there is...