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Updated over 4 years ago on . Most recent reply

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6
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Kylene Chavez
2
Votes |
6
Posts

Refinancing options for a BRRRR

Kylene Chavez
Posted

Hello! 
I am new to BiggerPockets and this is my first post. I would love some insight on refinancing a BRRRR. My husband and I own 4 rental properties that we bought using the old fashioned 25% down method through the years. We have good equity, good reserves, good credit, no debt outside of our mortgages and decent cash flow. We are looking to add to our portfolio and would like to try the BRRRR method. We recently took out a HELOC that would probably allow us to buy and rehab another property. However, we live in Las Vegas, NV and are both in the service industry. My job has slowed and my husband has been laid off of his job. Does anyone have any insight on a type of loan or bank that would refinance a BRRR without his usual income, knowing that mine will not meet the required DTI of a traditional lender? I would love to hear about any similar scenarios. Thank you!

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