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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 4 years ago on . Most recent reply

User Stats

19
Posts
16
Votes
Samuel Gutierrez
  • Rental Property Investor
  • El Paso, TX
16
Votes |
19
Posts

Ready to refi as part of a BRRRR in El Paso, TX. Lenders?

Samuel Gutierrez
  • Rental Property Investor
  • El Paso, TX
Posted

I purchased a SFR in September 2020 so I've had the property for approximately 6 months and I'm ready for the refinance portion of the BRRRR. During this time, I renovated the house and have had success listing the property through AirBnB. I think it's time to move on to the next project so I'm looking for a cash-out refi. I went to my local credit union but found their closing costs seem much more expensive than I've seen in the past. I'd greatly appreciate any suggestions on where I should be shopping for this loan, how to pay minimum closing costs, or any other related advice. As always, thank you all!

-Sam

Most Popular Reply

User Stats

15
Posts
7
Votes
Jesus Ojeda
  • Real Estate Agent
  • El Paso, TX
7
Votes |
15
Posts
Jesus Ojeda
  • Real Estate Agent
  • El Paso, TX
Replied

I would try out GECU if you haven’t so already. They frequently run promotions covering closing cost, if they don’t ask when they will.

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