Refinance Personal Home for First Rental property

[Jonah Kubath]

I have owned my home for 2 years now. I have roughly 140k in equity and I am looking to do a cash-out refinance. The cash will be used to start the BRRR method. I am looking at houses around 200-300k and then renovating them to be a rental.

Do you have any tips on going through the refinance?  Companies to use or methods that can save me in fees.  I have heard of some lenders not having a refinance fee.

Thanks

[Andrew Postell]

@Jonah Kubath so price is important but if I choose the cheapest...that's usually what I get.  There are plenty of "online" lenders that have rock bottom pricing....who will never call you back, take forever to do the loan, misplace all of my documents, etc.  And maybe that's fine?  Maybe...but maybe not.

I would certainly recommend asking people in your area who they use.  Then you get someone that you know comes from a good place.  There's plenty of real estate groups in Maryland that meet in person.  Maybe go visit a couple of meet some people in person.  They might have some really good suggestions.  Even facebook groups are a good place.  But I would HIGHLY recommend to go local here.

Hope all of that makes sense.