Brrrr financial question

[Michael Cline]

I am searching for a property that I can brrrr. I have not been working due to Covid. I asked a lender if I could refi a home if I am not currently working but it has rental income and he told me no. My question is how do people brrrr as a main job if they need income to refi? 

[Jon K.]

I don't know many investors that only BRRRR for a living (most bring in income from other aspects of real estate investing as well) but what I inferred you were asking is how do people get loans without W2 income. Some commercial and private lenders will care more about the asset and your track record as an investor than your personal finances as opposed to a conventional lender that very much cares about your personal finances. That being said, rental income is still income and if you have enough of it you can still get conventional loans depending on the rest of the picture.

My advice is to network and ask other investors for commercial and private lender referrals in your area and reach out to a lot of those to see if someone will do the refi for you.