Hey everybody, My name is Joel, I'm just getting started by combining the BRRRR with long distance investing. Per DG's new book I have started with trying to get pre-approved for a refi first.

So... I sent out almost 40 email! to every lender I could find in the city I am interested in . I told them what I wanted to do , gave them some basic info up front like DTI and credit score, and asked the questions DG recommends in his book. ...that was last week..

So far I have 3 responses, one lady basically told me in a very polite way to F off lol!, Another initially said that they would only refi LTC right away and I would have to wait 18 months to do a refi of LTV

which was obviously disappointing, then the last response I got said they would have a 6 month seasoning on fixed rate products , but I could eliminate that if I went with one of there ARM loans.

Now my understanding is that if I don't already have any finances properties (I don't) then I should be trying to get the best deals on fixed rate Fannie/Freddie backed loans until I get to 10 properties , after which I will need to settle for ARM's and portfolio loans. Assuming no one else replies and I am stuck with this one bank that will work with me, would it be a dumb move to take the ARM on a first deal so that I could do the refinance without waiting 6 months ?

And I thought finding good contractors was going to be the hardest part haha! Anyways, any other advice or suggestions appreciated!

BRRRR friendly lenders in TN

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