The Refinance in BRRRR

[Emmanuel Igboin]

A whole course could be thought on Refinancing in the BRRRR method. Case in point: I started a real estate investment company three years ago, (Pawa Investment Properties LLC), and after hiring a coach to teach me the BRRRR method, I got private funding from friends and family to buy a single family home last year for $76,000 cash. The appraisal came in at about $185,000. Excited, I headed to the bank for a cash out refinance only to find out that it is not that easy. The bank wanted a DTI of 40%, didn't it because I recently bought a wine store with cash and cc so my credit score is between 599-623, the last time I checked. I am still to cash out on a property with no mortgage that is worth $185,000. I am only asking for $100,000 and already have the property rented.

New investors like myself need to be schooled more on the Refinance of the BRRRR method. It is the most important R.

[Eliott Elias]

Use DSCR lending in the meantime.