What will you if cash out REFI's don't come back this year?

[Lesley Resnick]

A month ago, not one would have guessed we are in the situation we are in.

Considering the unthinkable, A troubling thought occurred to me:

What will people do if they can not do a cash out refi? The BRRR model does not work without refi. You will most likely be able to get your loan converted to long term and/or get a loan for what you have in the house. For the business to continue we need a current market appraisal and 75 - 80% ltv.

I personally have 4 properties that would face this problem

1.  Owner finance on a property that is due in 1 year.  I have about 10k in reno and the house is worth significanly more than I owe.

2.  I have renovated a house I own free and clear - Probally the most cash tied up in one place

3.  2 Hard money loans renovation loans due in January.

For me, and most people, to get to the next level I need current appriasals and cash out at 75% or I quickly run out of cash.

I expect they will come back at some point, but what if it takes 12 months to roll out?