How to BRRRR SFH with no season time?

[James Lee]

Hello BP,

I have been reading a lot about the BRRRR strategy and have found a partner to put up the capital. My questions are the following:

1.  If we pay all cash for property/rehab and have a renter in place with a contract:

A) Can we refi right away?

B) What lenders will do this? It is my understanding that traditional requires 6-12 months

C) What financials will they need if we are using it as an investment property with renter in place and leased signed?

D) Can we avoid having to personally sign for the loan if we are purchasing the property through an LLC?

E) What is the max LTV I can expect to receive?

F) I hear mixed responses on what value the banks will loan against. Is it purchase price, purchase price + rehab, or is it newly appraised value?

1 property in particular I have come across is off market being put up for $48k which needs 18-20k in reno but will ARV for $90k. Leaving 25% in the property we could refi for 75% and pull out $67.5k in an ideal world. Is this wishful thinking or is it actually possible?

Thank you all in advance for your comments and help

Eric