BRRRR Newbie | Properties w/ conventional loan

[Laine Furukawa]

Hi BP Community!

I am an owner of 4 out of state investment properties. All acquired through conventional loans (20% down) and currently rented with a decent return (10% -/+). If wanting to incorporate the BRRRR method, would I essentially begin @ finding a lender for refinancing? It seems that you'd want to start with a purchase of a fixer-upper first, but what about properties purchased through 30 year conventional loans? Is it wise to refinance an already long-term mortgage (30yrs). How would that look and would that affect my current cash flow? It would only make sense to me if I could get close to all the money that I put down for all 4 properties. Thank you for your time in advance!

Shaka \000/

[Dan D.]

Whether purchased with four different loans or with one loan across all properties, the loan to value measurement will be a key factor in whether you can take money out.

In your case, if you bought in a market that appreciated, you may have more value now than when you purchased, but probably unlikely.  But as always, talk to banks and other lenders for options.  No one on a forum can answer questions that the lender can answer specific to your situation.

Send us pictures of the property you buy in Hawaii, and let me know when I can bring the kids out for a free week!