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Updated over 7 years ago,

User Stats

292
Posts
373
Votes
P.J. Bremner
  • Rental Property Investor
  • Claremont, CA
373
Votes |
292
Posts

BRRRR Ohio - Lenders or Credit Unions or Brokers, Oh my!

P.J. Bremner
  • Rental Property Investor
  • Claremont, CA
Posted

So I'm currently in negotiations with my first couple of properties in Ohio and I'm looking to implement the BRRRR strategy. I have a couple great candidates for property management, an awesome contractor and a very knowledgable agent. The one piece of the puzzle I have yet to figure out just yet is the financing part. I'm purchasing these properties cash, rehab in cash and would like to pull the equity back out with cash out refi (unless there is a better way to do it?)

Can anyone with experience in Ohio investing chime in here? Should I look for a direct lender? Call a bunch of credit unions? Deal with brokers? I've got experience with each of these in my home state (southern California), but not exactly sure if things are different out that way when it comes to financing. Most of what I am looking at has an ARV of over $100k, so no, I don't need a lender to lend on that $40k turd (not that I wouldn't be open to it... just not for my first few properties). Thanks in advance!

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