Refinancing A BRRRR 3-Family in Rhode Island

[Nelson Taylor]

I am looking to BRRRR a 3-family in Providence using private money. Does anyone know a local lender who will do less than 80% LTV on the refinance of an investment property?

[Anthony Thompson]

@Nelson Taylor since I think you're also a RIREIG member, I believe there are several private lenders in the group who might be able to assist you. The last few meetings we've had several announce themselves to the group.

It all comes down to specifics, the specifics about the property and about the private lender. Some of them are looking to put a lot of money out there.

Usually getting someone to do less than 80% isn't the challenge though, since the lower LTV, the safer the loan. Did you mean that you're looking for more than 80% LTV (and thus, getting more of your equity out)?

If so, that would indeed be challenging, but I wouldn't rule it out, again it would depend on the specifics of the deal.