Starting a refinancing conversation before a deal

[Freddy Hernandez]

Hi all! I was watching the BiggerPockets on YouTube and I was watching a video on BRRRR. This is a strategy I am trying to get into and learn as much as I can. I forget which video this was but this stuck with me. David mention when doing BRRRR, he tends to start it backwards so he has everything inline when it comes to buying (probably not exactly what he said but overall this was my understanding). So he mention this includes talking to lenders about doing a cash out refi before even having a deal. I would like to do this but as someone who has never done a deal yet, Im not sure how this conversation looks like? I wouldn't have a deal yet so Im not sure how this conversation would go. I am wondering if someone can help me figure how to start this conversation, what questions I should ask/or they will ask, and what items should I have have ready when calling a lender.

Thanks all!

[Zach Edelman]

I'd look for a lender that can do the first stage of the BRRRR (purchase + reno) as well as the refinance, this way they can draft you a master plan for the entirety of the BRRRR, and already have most of your documents.