BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago,
First time homebuyer looking to BRRRR my first property OOS
I am starting OOS because I have about 150k cash and can't afford to buy in California where I live now. I won't qualify on conventional loan because on paper my DTI isn't there (I mostly get paid in cash). My questions here would be once I get to the refinance step in the BRRRR will I be able to qualify on a cash out refi based solely on the cash flow from the property or will I have to go the DSCR route and is the DSCR only for seasoned investors because again this is my first time buying a property. Also would you recommend buying a fixer or turn key property due to the hassle of putting together a team OOS? Looking @ Ohio or Houston. Thanks in advance.