BRRR Refinance Needed

[Ryan Rogers]

Hey All!

Some back story:

I have a deal that originally was going to be a flip but ended up holding it. 322K purchase price, put 55k into renovations and it now rents for $3250 in Duxbury MA, 40 minutes outside Boston. Duxbury has a high growth potential for long term appreciation.

The mortgage is 305K, had an appraisal completed and it came back at 510K. My ideal situation is to refinance with a 30 yr. fixed with a cash out of 75% to 80% LTV. Or a potential HELOC.

Any lender out there about to do this?

Thank you!