BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 5 years ago,
Help please: BRRRR Cash out Refi to Repeat Vrs Rate & Refinance.
Successful year of flipping in Utah with a lot of success. I flipped one last month and decided to BRRRR.
First Brrrr, plan to do a lot more, but need your help.
I got 90% LTC hard money and flipped the home real fast for real cheap. Problem was refinancing with a buddy of mine at wells fargo couldnt even dream of a cash out refi without holding it for 6 months (even then it would only cash out 80% LTV)
I have almost 35k out of pocket in the property plus about 15k forced equity profit locked up in this BRRRR and it seems like I can be more creative. (Utah is a hotter market but It can still be done closer to 15-20k out of pocket)
1st change is try to get better lending like 100% financing.
what else should I be thinking about? (FYI purchase was 185k rehab about 12 and arv about 240 hard money about 10k) The home is refied at 75 LTV now. Thanks in advance
-Adam York