BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 5 years ago on . Most recent reply
HELOC Pay off after BRRRR?
I am new to investing in rental/investment properties and looking for some guidance. I am doing as much research as possible before I make a move but do have my eye on a property.
Here is my current situation....
I am currently looking into a HELOC to purchase a multi family, rehab property, & rent. Once property is rehabbed and renters are in I plan on a cash out refi on the multi family house so I can invest in more properties.
Here is my question...what to do with the money from the refi? Is it best to pay back the HELOC? How many times will a bank let an individual do a cash out refi?
Doesn't debt to income come into play with refinancing?