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Updated almost 6 years ago on . Most recent reply

User Stats

174
Posts
68
Votes
Timothy Doenges
  • Real Estate Agent
  • Mount Nebo, WV
68
Votes |
174
Posts

Refinancing a BRRRR Properry with ARV Under $75,000

Timothy Doenges
  • Real Estate Agent
  • Mount Nebo, WV
Posted

Title says it. I've called 5-10 local banks and asked about residential refinances, and everyone is saying they can't refinance properties under $75k ARV. I have a 2/1, 900sqft rental in B-/C+ neighborhood that has an appraised value of $60k with almost everything new. All the properties in the neighborhood are of similar size, condition, and value. I'm at that critical Refinance point on my property, but I can't find a lender to service a property at my value point. Any pointers on how to execute the Refinance step on such a property?

  • Timothy Doenges
  • Most Popular Reply

    User Stats

    5
    Posts
    1
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    Replied

    @Timothy Doenges I have a client in Beckley WV looking to get rid of her inherited property. Any ideas on who I can contact out there? We both live in Northern Va.

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