BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 4 years ago on . Most recent reply
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I completed a BRRRR and want to refi the fourplex, suggestions?
I purchased, renovated, rented, and now I'm looking to refinance the property. I'm looking for suggestions on banking institutions, lending terms I should be looking for (30 yr fixed, 25 yr because its a partnership), typical interest rates, etc.
I purchased the property in a partnership with my LLC and a partners LLC. I'm stating this in case it will impact the financing.
Any help with this question will be greatly appreciated.
P.S. technically I only completed BRR, I'm looking to do the next two RR's
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@Thomas Magill I would say you will be looking for a commercial loan that will allow it to stay in the LLC. Rates and LTV's will vary based on credit score, experience etc. You can get a 30 yr fixed though! I'd say rates will be somewhere between high 5's to mid 7's depending upon the lender and your specific scenario.