Lender Recommendations for Cash Out Refinancing

[Timothy Jacobson]

Our business finished our third project, a BRRR in New Britain, CT. We bought for about $50k, put $60k into it, and are now renting both units for ~$2100/mo. Based on comps and research, we estimate an ARV of about $140k.

One next step, we believe, is to start getting to banks and credit unions to refinance the property so we can use the cash on subsequent projects. We are putting out business proposal together that includes our business plan, portfolio of successes the past 9 months, our financial statements, and tax returns. 

Can the BP community potentially suggest lenders that are looking for loans like ours, aka our business? 

We are approaching the 6 month seasoning period on this property, so it's not as critical for this project, but would like to begin looking for financing a lot earlier for next projects. Specifically, we just bought a single family (7 bedroom) property 2 blocks from Central Connecticut State university that we plan to BRRR. Our goal is to refinance ASAP with an estimated ARV of $200k