BRRR roadblocks

[Sam White]

I am planning the acquisition of my next rental property. I am a big fan or the BRRR strategy in theory.

However I have been going thru it with my banker and there are some aspects I need help on. 

My banker is very REI friendly. Most of his loan book is made up of apartment developments and professional remodels.

When I explain my intentions with BRRR, He continues to say the refi from him would be a Loan to Cost rather than Loan to Value. Which seems to take the BRRR stategy off the table.

Can anyone who has used the BRRR please explain how you structure your refi with the bank?