West Michigan banking ?

[Nick Watkins]

Hi everyone,

I am looking for a bank in the SW Grand Rapids area that loans on the "brrrr" strategy. The banks that I have talked with want 1 full year of ownership before Refi.

Thanks for the help,

[Tim VandenToorn]

Nick, When I refinance on a BRRR strategy I do them commercially. There are no seasoning requirements, but the loan terms are not as favorable as a traditional loan. Due the the complexity of my portfolio commercial is the route to go for me. Unfortunately I can't give you advice on a traditional loan. I am surprised by the year long requirement though. I have heard investors refinancing after as little as 3 months to 6 months. I will check around.