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Updated over 4 years ago,
Investor friendly lendors around Charleston, SC?
Planning to purchase a new home and refinance our current home to convert into a second rental property (basically brrr'ing our current residence) . Timeframe between purchase and refinancing would be pretty quick. Hoping to be honest with a lendor about our plans and finding one that is OK with it. Does anyone have any advice or had recent success with a similar situation? Will likely refinance first but we're a little frustrated seeing homes we'd like to purchase selling in two or three days. No LLC established so we'd have three mortgages between us both. One with a lease and great cash flow I can prove, one newly established rental which will also cashflow very well (will need to convince them of that which shouldn't be hard) and a new personal residence. So basically I'm looking for a lendor that will overlook a recent refinance or home purchase (depending on what comes first) with the understanding it's being done as an investment into income producing property and not shy away from offering a new mortgage or refinance (again depending on which comes first).