Renovation done in 2 months now what?

[Michael Ferrera]

Looks like I missed the refinance part... i have a hard money loan. Im wrapping the rehab of this house after 2 months its ready to rent and refinance. Except I cant pull any cash out for a year... HOW DID I MISS THIS!? How are people able to brrrr more than one single family in less than a year. Cant buy anything else till I get my cash back... who has a similar experience? And what to do to brrr more properties in a year? Portfolio lending?

[Jeff Cichocki]

As others have sad, shop you loans to other banks. The best ones to work with are your local banks and credit unions. Talk to them about portfolio loans (loans they keep in house and don't sell off). Every time one of my loans is paid off, I find out who their new lender is so that I can track it. I keep this list so that I can give it to my borrowers who are trying to BRRRR the property. It makes it lot easier if they know which banks like this kind of deal. It's also good for the banks, because they get to know me and how I work. They know what their getting when they refinance me out.

Good Luck!