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Do you lend everywhere or just your market? And do you have any temp to perm products?
Quote from @Brian Falkowski:
How to complete a successful BRRR. Ask me anything!
Thanks for the opportunity, Brian. My wife and I are in the process of BRRRR'ing a duplex in southern NH right now and are already planning our next move. We are very curious of primarily 2 things.
1. How to most accurately estimate ARV? I've been searching for comps in the area and trying to guestimate but this is where we are the most unsure in the whole process especially since this can completely make or break your deal. Part of me wants to become good friends with an appraiser or take appraisal classes...
2. Do you provide loans for the purchase of the property and the rehab as well as provide a sub 6 month seasoning period to be able to refinance quickly? Also are BRRRR lenders like yourself providing loans that are more like hard money or are they structured more conventionally?
Thank you!
1. What are you typical seasoning requirements these days?
2. Are you hitting a lot of borrowers on DSCR? We've gotten knocked down from 75% a few times lately given how much prices have gone up. Not always, but several 70% or thereabout limits based on DSCR.