All Forum Posts by: Jean Felix

I have between 4-6 month with the FHA before I can refinance, I closed on oct 15th of this year. I will need to chat with my lender regarding losing the interest rate of 3.875 to go with a conventional rate. Diana has a solid point as I'd like to get my money back when possible and if the rate equals to what I have not then i'd be okay with it. PMI sucks but if I'm able to use FHA again in another location that would be ideal while getting my money back from the first multi. I didn't do any rehab to the property but both units are at 1700 each with my mortgage at 2800. The rents are a bit under as I did close recently and needed people in asap before the winter. I'm planning on increasing each to 1800 around the end of summer 2019

Hi all,

I have a quick question about Brrr vs line of credit. I have a multi family and basically brought it, semi repaired it (was in good condition already for the most part), rented it but did not refinance as I used an FHA loan on it.

My question is on the Brrr strategy part of refinance as I didn't use a hard money lender so no need to repay but now how do I get my money buy if my interest rate at the moment is under 4%. I thought about a line of credit to I guess not get my money back but to reinvestment in another property.

I basically would like to pick peoples brain on this scenario and see what angles I'm missing

thanks