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Updated about 2 years ago,
Lower ARV Refinancing Advice
Hey everyone! I have run into my first problem as a real estate investor and was wondering if any of you had a possible solution. My wife and I bought our first 3 rental properties, and we are going to BRRRR them. After we do a little bit of rehab on them, they will bring in $900+ a month. The problem is that when I do a CMA on these properties, they ARV will probably be somewhere around $80k, give or take.
My question is that, is it possible to refinance these properties with a low ARV like this? I have contacted multiple DSCR lenders to see if they will refinance these after the seasoning period, but they all want a minimum of $100k a door after the ARV. Is there a way to jumble multiple properties into 1 loan so that it gives the lender more incentive to lend on these? Just trying to figure out how I can get my equity out of these properties so that I am able to keep doing this process over and over. Thank you!