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Updated over 6 years ago,

User Stats

19
Posts
2
Votes
Grant Mitchell
  • Rental Property Investor
  • Youngstown, OH
2
Votes |
19
Posts

Done with the B-R-R....now how do I refinance?

Grant Mitchell
  • Rental Property Investor
  • Youngstown, OH
Posted
Hello All, Closed on my first property back in February. Now have actual tenants moving in a few weeks from now. I’m attempting the BRRRR strategy but I’m not sure how to go about refinancing my initial loan. I have a SFH that I purchased for 50K put around 6K of cosmetic rehab into it (paint & carpet was really all the interior needed did some landscaping myself for curb appeal) got the down payment of 10K from my 401K. Mortgage is for 40K. Where do I go from here or what steps should I be taking I refinance and pull my initial 10K investment (or at least some) out to purchase property number 2. Thanks in advance for all the help! Regards

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