BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago,
Cash out refi of duplex investment property. New rules?
Hey Everyone,
I am looking to do a cashout refi to BRRRR a rental property into another property. Currently we owe approx 240K and the place is worth approx 500K. I can't find a single lender that will even talk to me about doing a cash out refinance right now. Lenders have referenced new guidance that came out a week or two ago. Is anybody else running into this? Also, has anybody found lenders that are still servicing (as of last week) these types of loans?
Thanks for your help,
Derek