BRRR Refi - Please explain!

[Yadira Gutierrez]

Hello BP Team!

Looking for a more detailed walk thru the refinance part of the BRRR…

How is the qualification process?  I know that that the concept is that I cash out and get the new property…however, since these are regular mortgage loans, how do I qualify for several properties on my salary?

I own my primary residence and I will probably qualify for a second mortgage (maybe)…however, I still don’t understand how I would keep getting mortgages with the same income.  I understand that the rental income will be taken in consideration; however, most of that income will go to pay the mortgage and expenses. With a profit of lets say 500 a month it will not be enough to qualify for a new property…I know I am missing something!

I have tried mortgage lenders, but they are not friendly to investors so I haven’t gotten a real answer. 

Looking forward to hear your (BP Team) input!

Yadira

[Paul Defngin]

Buy, Rehab, Refinance, Repeat the process on another property.