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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 1 year ago, 11/07/2023

User Stats

31
Posts
17
Votes
Tim Braun
  • Flipper/Rehabber
  • Union Springs, NY
17
Votes |
31
Posts

Finishing up my first "rural" BRRRR, looking to refinance

Tim Braun
  • Flipper/Rehabber
  • Union Springs, NY
Posted

Hello all, I purchased my first investment property about 2 months ago through a hard money loan and we are about 2 weeks from having it finished. I could just sell it, but my strategy is focused on holding when it makes sense - the numbers work out, so I am trying to find someone to help me refinance the property. I am located just outside of Auburn NY (between Syracuse and Rochester, the fingerlakes) and wanted to see if anyone knew if anyone had any advice or had any recommendations for lenders? Any similar experiences that they had to work through?

One issue is that I purchased the property in my LLC, so I'm sort of stuck with commercial loans by the sounds of it?

Another issue I keep running into is everyone keeps telling me the property is too "rural". Its about 10 minutes outside of a 26k population city. Its not huge I know, but there is demand out here.

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