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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 12 months ago on . Most recent reply

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Jordan Epping
  • Real Estate Broker
  • Twin Lakes, WI
1
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11
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Refinancing and Hard Money

Jordan Epping
  • Real Estate Broker
  • Twin Lakes, WI
Posted

Forgive me if I am missing something simple here. But thinking about the BRRRR process. I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property. If my goal is to refinance the property once it is rented and rehabbed, but I cant get a bank loan to pay off the hard money lender, what do people normally do? Is finding a bank to loan me, the only option?

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
4,415
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied
Quote from @Jordan Epping:

Forgive me if I am missing something simple here. But thinking about the BRRRR process. I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property. If my goal is to refinance the property once it is rented and rehabbed, but I cant get a bank loan to pay off the hard money lender, what do people normally do? Is finding a bank to loan me, the only option?


Hi - not missing anything, this is a very common issue. Please check out this recently published article on BIggerPockets which addresses your exact question - BRRRR financing pros/cons of all the options (Cash / Hard Money / DSCR / refinance options)

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

  • Robin Simon
  • [email protected]
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