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Updated over 7 years ago on . Most recent reply

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10
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Randy Wilson
  • New London, CT
0
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10
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First BRRRR loan structure help

Randy Wilson
  • New London, CT
Posted

I'm trying to understand the mechanics of the BRRRR strategy and thought you guys might be able to provide some input.

I'm looking at a property that is on the lower end of being able to qualify for a conventional mortgage. If I need to get hard money to purchase the property after I've completed the renovation will I be able to cash refinance with a tradition bank right away or will that still require a "seasoning period" for the loan?

Will hard money lenders allow for financing of repair costs?

I'd like to get my money back ASAP to start looking for another property. What options should I be considering? Local banks? I've heard Visio is good for BRRRR? Any other suggestions?

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