BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 11 months ago,
Refinance portion of BRRRR
Hi all,
New investor here with some questions on the refinance portion of the BRRRR strategy. Most banks that carry Fannie/Freddie loans have a seasoning period of 6 months which is a long when you have carrying costs. Any ways around this? I've found a couple of options, but not sure how legit they are:
-Delayed financing prior to 6 months, but only based on purchase price and closing costs, not ARV which isn't ideal.
-Cash out Refi with a private lender who has higher rates/fees
-One of my friends buys a property in the name of his LLC, rehabs it, then sells it to his spouse. Which apparently is a way around the seasoning period
Thoughts? Thanks!