Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

16
Posts
3
Votes
M T Naughton
3
Votes |
16
Posts

Refinancing with the BRRRR strategy

M T Naughton
Posted

I bought a house cash.  I will be paying for rehab out of pocket. Before I begin rehab, I want to have a lender in place to refi before beginning rehab.  Now I am shopping lenders, and I am having a hard time finding a lender who will give me a mortgage against the appraised value.  The closest I got is 80% of purchase price and rehab costs.  They want to see my money in...  Has anyone had this issue?  Can someone provide me some advice on how to get his refi done?  Am I putting cart before the horse, and just wait to shop for mortgages after rehab is done?  Will they still want to just give me 80% of purchase price and rehab costs?  Why would I need a mortgage if I own the property outright?  Please advise me on how to proceed.  I'm at a loss right now... Any advice would be appreciated.  thank you

Loading replies...