Is this really a BRRRR???

[Bode Adeyi]

Can you refinance out of an initial funding via long term loan into another long term loan and still benefit from BRRRR strategy? I.e Obtain an FHA loan and refinance out after 18 or 24 months? (Intent, will be to get rid of the PMI- is it even possible?)

If not applicable to FHA loan, is it applicable to conventional loan?

Does BRRRR only make sense for initial funding being either a short-term private loan or hard money lender, then refi into conventional loan?

Thank you!

[Alexander Flores]

@John Adeyi Yeah I knew from the minute I got the offer accepted I was going to live in it for 2 to 3 years then sell it so I wanted the longest amortization. I think a 30 year is the best way to go since you can always pay more than the minimum but not less. If you get a 15 or 20 year you have to pay that minimum. You can turn a 30 year into a 20 year but not vice versa.