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Updated over 3 years ago on . Most recent reply
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Refinancing my first BRRRR
I recently got into my first deal with a private lender in where he was willing to co-sign a conventional loan with me and fund the rehab of my first house hack for a percentage back. Originally, the plan was to pay my private lender back through a refinance. However, the loan agent we are using, which has worked with my lender on his past investments, told me that I probably wouldn't be able to refinance until 2 years from now. I'm afraid this will affect my lender's decision to lend me the funds to rehab my property.
Is there any way to speed up the refinance process? Or what alternative plans do you guys recommend I can put in place to pay back my lender.
Most Popular Reply
@Jose A Perez What was the reason the lender gave for refinancing after 2 years? What timeline do you have for refinance? I'd talk with other lenders and find one who will be able to meet your timeline or at least will be far less than 2 years. There should be plenty that will do that.
Best of luck!