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Updated about 5 years ago on . Most recent reply

Adam Richards's profile image
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Adam Richards
  • Flipper/Rehabber
  • from Salt Lake City, UT
  • Member since Sep 21, 2019
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Adam Richards's profile image
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Adam Richards
  • Flipper/Rehabber
  • from Salt Lake City, UT
  • Member since Sep 21, 2019
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Adam Richards
  • Flipper/Rehabber
  • Salt Lake City, UT
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Mortgage Brokers & Lenders

Buy Rehab Rent Refinance Repeat

Adam Richards
  • Flipper/Rehabber
  • Salt Lake City, UT
Posted

Do renter's have to be in the property paying rent for a minimum of one year to be eligible to refinance the property when using the "buy rehab rent refinance repeat (BRRRR)" method? Are there lenders that will refinance a property with the renters in it for only a month, or so?

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John Morgan
  • Rental Property Investor
  • from Grand Prairie, TX
  • Member since Oct 10, 2018
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John Morgan
  • Rental Property Investor
  • from Grand Prairie, TX
  • Member since Oct 10, 2018
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John Morgan
  • Rental Property Investor
  • Grand Prairie, TX
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John Morgan
  • Rental Property Investor
  • Grand Prairie, TX
Replied

@Adam Richards

I just did one after owning the SFR for four months and with a renter in it. Paid 135k cash and fixed it up for 25k...so 160k all in. It got appraised for 215k and my bank was willing to give me up to 150k cash with a cash out refi.

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