BRRRR - Refinancing without a W-2

[Justin Greene]

I am currently in the middle of a BRRRR deal, but hitting a hold up on the Refinancing stage.

I currently have the house on a one year owner financed note with a balloon of 38k due in June and interest only payments until then.

The rehab is well underway, completion date is set for December 1st. The rehab will cost a total of 55k.

With initial closing costs, my all in will be about 100k. The conservative ARV will be 165k and rent will be 1300/month.

I have had a W2 job up until Monday (I was offered a promotion that I had to move for, and I turned it down as well as submitted my two week notice).

I have income through a W9 job, but there is very little history with it.

I was wondering if anyone had some creative solutions for cash out refinancing with my W2 income recently ending? I would ideally like to pull at least 90k put of the refinance to start my next BRRRR house.

Is the loan to asset ratio 160k/100k enough to go through semi traditional means on financing the deal?

Any advice would be appreciated!

My ultimatw goal is to

[Brian Garrett]

You can refinance through a commercial/portfolio loan but the rate/term will be less favorable.