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Updated over 4 years ago on . Most recent reply

Frank Teshima's profile image
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Frank Teshima
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  • from Maui, HI
  • Member since Oct 5, 2020
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Frank Teshima's profile image
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Frank Teshima
  • Investor
  • from Maui, HI
  • Member since Oct 5, 2020
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Frank Teshima
  • Investor
  • Maui, HI
20
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59
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Buying & Selling Real Estate

Refinancing and taking money out of the deal

Frank Teshima
  • Investor
  • Maui, HI
Posted

What's up everyone! I'm from Dallas, TX. Very new to REI and learning quite a bit from forums and podcasts. Thanks to everyone.

Anyways, I'm confused about the whole refinancing part of the BRRRR method. Will my mortgage go up after I refi? Or could you guys explain the Refinance part of the BRRRR method

Thanks for all the help in advance!!!

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Darius Ogloza
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Darius Ogloza
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Darius Ogloza
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  • Marin County California
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Darius Ogloza
  • Investor
  • Marin County California
Replied

Yes, your mortgage will go up.  You are not taking YOUR money out of the deal, strictly speaking.  You are borrowing money from the bank based on the increased equity in your property.  You pay interest on the money you borrow.

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