Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Investor client needs lender for BRRR. Refinace/new purchase. SoC
Howdy BiggerPockets community. I"m in Southern California and I have a client who purchased her home in Oct 2016. She has done massive and impressive renovations and now rents part of it on Air Bnb for a nice profit. There is now another property in her community that she has her eye on because she knows it is a good money maker and she is in the prime location for managing it as an Air Bnb.
Her current lender is Eagle Home and they say that she has to wait at least a year before doing anything new. I know from reading BiggerPockets that isn't necessarily the case. So I'm reaching out for recommendations AND advice!
She would like to 1. refinance and pull cash out from the new appraisal 2. buy the new condo as primary home for lower interest rate and move into it to start the improvements.
Thanks