Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago on . Most recent reply

User Stats

14
Posts
4
Votes
Jose A Perez
  • Investor
  • Omaha NE
4
Votes |
14
Posts

Refinancing my first BRRRR

Jose A Perez
  • Investor
  • Omaha NE
Posted

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

User Stats

793
Posts
620
Votes
Aaron W.
  • Rental Property Investor
  • Northern Virginia
620
Votes |
793
Posts
Aaron W.
  • Rental Property Investor
  • Northern Virginia
Replied

@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!

Loading replies...