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Updated almost 7 years ago,
BRRRR Refinance Stage
I recently got a duplex under contract for 27K. It needs about 7K to fix up. But it can cash flow $900-1000/mo. I plan to use private lender money to fund this whole deal. My concern is mainly at refinance stage. What if I don't get whole 34K from the bank? What criteria does bank look for on refinancing this kind of cash flow property usually?