What no one talks about with BRRRs!

[Vincent Plant]

So I’m learning quick with the brrrr strategy that no one seems to talk openly about the 6 month waiting period on a brrrr before you do the cash out refi.

If you buy with a mortgage, you have to be on the title for 6 months before you can refi.

If you buy with cash you have to wait as well.

Everyone talks about brrrrs being a great “quick” strategy, NO ONE talks about all the waiting around.

Are you renting and then letting your tenant live there for months before refinancing? What if they blow the appraisal for you?

[John Teachout]

I don't think the waiting period that most lenders require is a secret. I've seen it discussed on these forums a multitude of times. There's also a waiting period if you want the property's income to be considered.

If there's a refurb involved that's going to take some time and I think most people's strategy is to get it rented out. You don't have to have it refinanced to rent the property. It's a sound plan but much more difficult now that prices have risen back to near pre-crash levels.