Any Pitfalls With Refinancing?

[Austin Fowler]

Hello All!

Let me start by saying that I have NOT bought any properties yet. I am shooting for a property in the next 90 days using the BRRRR method. I know I'll learn more through experience but I still want to gather as many bits of info as possible. My goal is to collect thoughts, advice and connections.

I'm sure there are many variables to this question: Are there any pitfalls that go undiscussed with refinancing? Let's imagine it is with a SFDU or a smaller MFDU using private lending. 

My research shows me it could take 120-160 days to refinance, lots of paperwork, need good credit score, etc.

Anyone want to speak to this? Is my research correct? Additional information?

Thank you!

Austin Fowler

[Jaysen Medhurst]

@Austin Fowler, get the bank on board BEFORE you close, make sure you're pre-qualified, and keep them in the loop. Make sure they understand what you're doing and are ready to go after the seasoning period expires.