Home style renovation loans vs Brrrr refi

[April Eilers]

We are getting ready to start our brrrr portfolio! We just spoke with our lender, and walked him through the strategy. He said whoever developed/uses this strategy isn’t up to speed with the latest products out there, and that there are ways to do the same thing with no/little initial investment. Our lender’s recommendation was a product called home style renovation mortgage. What are your thoughts on this product? The initial investment required is unclear to us, and we are not sure if it is possible to build a portfolio in the same way as the brrrr strategy. Does anyone know whether whether homestyle renovation loans require downpayments? If so, I think this would be a reason brrrr is better in the long run for those that don’t have a large stash of cash?