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Updated almost 6 years ago on . Most recent reply

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11
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3
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Preetham Gowda
  • Seattle, WA
3
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11
Posts

Financing options for BRRRR

Preetham Gowda
  • Seattle, WA
Posted

I recently bought a 2-unit house in San Antonio TX with HM and am currently working on the rehab. I bought the house for $195k. Putting in $60k into it. Holding costs will be about $22k, bringing my cost basis to $277k. My HM Loan is $217k. The ARV is 310k. I know I can do a cash-out refi in about 6 -12 months. At 75% LTV minus closing, I am expecting about 227k back, which means I will only be able to claw back only about $10k, unless my ARV increases. Do you guys see any other options that I am overlooking? Thanks in advance for your help.

  • Preetham Gowda
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