Recently Purchased Duplex -Refinance Questions/General Networking

[Brett Dawson]

Hi all,

I purchased my first property recently in the Tremont area. It is an owner occupied duplex that I am currently renovating myself (about $40k worth of rehab) and one of the things I am sort of anxious about is the refinance process.  I would like to find a cash out lender worth the value of my new appraised value when all is said and done but this is where things get cloudy for me.  I understand all repairs/enhancements I make need to be to maximize the re-appraisal value.  For those who have done this before is there anything I should know specifically regarding our Cleveland market?  Or any dos/don'ts of the process?  I would think with the current state of the market refinancing cash out loans is harder to find.  I have good credit as well (760+) not sure if that makes too much of a difference these days. 

Extra info about me:
My long term goal is to follow the BRRRR method generally (like most people it seems) trying to buy a new property every 18 months or so. I am brand new to all this and understand I know very little compared to those who have done this many times over. I am fortunately in a situation where I can do almost all rehab myself without the need for contractors. I would love to connect with those who have been down this road, especially if anyone has started off with an owner occupied duplex and has any advice! I have also checked out https://www.greaterclevelandreia.com and plan to join, if anyone is a member and has any anecdotal opinions/info about this I would love to hear it as well.

Thanks!

-Brett