BRRRR- Refinance Strategy

[David Prince]

Good Morning, 

Im new to the game in the Chicago market and looking for some insight around BRRRR strategy. I understand the creative funding for the purchase and reno but curious about the refinance aspect. It seems as though most of the posts elude to this being conventional financing terms through banks or other. Is that typically the case?

And what are the typical terms- 80%LTV and personal credit history or is this tied to a business entity that doesnt rely on personal credit? Im sure this varies significantly but looking for trends or general guidelines to wrap my ahead around the end-to-end strategy.

Thanks in advance for your insights.