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Updated about 6 years ago,
Looking for BRRRR Bank in Cleveland Ohio
Hello
I am looking for a bank where i can do a cash out refinance on properties i buy with Cash that will lend in the Cleveland Ohio area.
I have called around but not that many banks will do a cash out refinance without a long seasoning period.
My partner and i have the experience we have flipped about 10 houses and currently manage about 50 apts .
I plan on buying a rehab with cash and using cash for the repairs and the refinancing out all my money.
Basically the BRRRR strategy. rough numbers at buy for 40-50k put in 20-30k appraise for 90-100K and pull out 70-75% of that.
Just need some more money to scale.
Thanks for you help
Keith