How to find your refinance numbers?

[Angelo Pompeo]

I've read and listened to so many BRRRR posts/podcasts, but they don't really explain the refi part before the buy. I was going through the BP Daily (I think episode 3?) and that was the first time I'd ever heard the advice: Check what you can refinance for before you go into the BRRRR to make sure you don't get stuck holding a property you can't refinance.

My confusion is twofold actually.

1. First, how do you generally do that? Do you call just any preferred lender to get an idea what the number is, and then when you're ready to refi, you go with whoever gives you the best rate? If so, wouldn't the income from the new rental also factor into what you could get approval for? So is it all just ... not verbal, but a bit unofficial? Like "assuming you find something bringing in about $1000, with your current debt, we can loan about this much."?

2. I read you can BRRRR until you can no longer get the refinance option. But this confused me because it seems like as long as the rental income is covering the new asset, you could keep going. Theoretically, if a $1000 on a $100,000 asset was refinancable, wouldn't I be approved no matter how many $100,000 properties there were? As long as they each brought in the $1000? (just making up numbers for simplicity.

If there's a specific podcast episode that covers this already, feel free to point me at it. With over 400 BP podcasts, I've tried to hop around as best I can, but the ones I found on BRRRR haven't really gone into this detail yet.