Closing on my first BRRRR property tomorrow!

[Stephen Bruce]

Good evening, BPers! 

I am closing on my first property tomorrow! I am very excited but also nervous. The current economy can be intimidating for a first-timer. Do the experienced BRRRR investors have any advice for me as I start this process? Anything would help: from past experiences, current projects, navigating this market, tips and tricks on Reno, etc.

Thanks in advance! Looking forward to reading through everything you guys say. 

[Luka Milicevic]

My current experience is the refinance process is extremely difficult

Historically, I have not had issues doing a refinance. It was very easy. 

Today, my lenders are not as....generous.

I'm either getting 55% LTVs, extremely high closing costs, or interest rates that are too high compared to current rates. 

That's been the biggest CURRENT issue that I'm facing with my most recent BRRRR