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Updated about 5 years ago on . Most recent reply

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32
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6
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Briana Bean
  • Rental Property Investor
  • Springfield, MO
6
Votes |
32
Posts

Missing piece of the Brrrr method.

Briana Bean
  • Rental Property Investor
  • Springfield, MO
Posted

I understand the Brrrr method; mostly. But there is a missing piece of the puzzle in my head. 

It is my understanding that most banks will only give you 10 conventional loans. It is also my understanding that the theory behind the Brrrr method is to roll one rental properties equity into the next one ,by using cash out refinance, and do it over and over until you have met your goal. 

THE QUESTION: So, how do you continually get the bank to keep refinancing your properties into a conventional loan past the allotted number of 10 loans? (Or however many your allowed.)

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Replied

It is my understanding that you will want to build a relationship with a community based bank who carries their loans in-house.  By doing so, they do not have to abide by the same rules the big banks do.  Community banks who aren't looking to sell their loans off have more leeway when it comes to their loans.  That said, I am sure there are folks on here with worlds more experience than myself and might have some different thoughts.  Good luck!

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