BRRRR Strategy Refinancing

[Kaydn Jensen]

Hey BP,

I recently purchased my first rental, a house hack duplex. I have great renters and was able to buy the house with cash. Now I'm ready to pull out my equity and I hope to move onto a BRRRR. Before I dive in I'm attempting to get my ducks in a row.

I have a question about the refinance stage of the BRRRR strategy. I'm familiar with traditional loans and the income thresholds as well as credit requirements. In a BRRRR refinance, does the lender typically approve the loan based on the rental income or is it still based on the borrowers personal income? My concern being that I am a full time college student and don't have a lot of income is that I won't be able to support two liens on my current duplex and another property.

Thanks in advance for any advice and information you have on refinancing!