All Forum Posts by: Daniel Amirhamzeh

Thanks @Rich Ramjatan and @AJ H. The property is in a B+ neighborhood, which needs updating kitchens, bathroom, paint etc. My agent believes that the appraisal would come through after talking with her today. I will keep you posted once the appraisal is done to see whether I can get a conventional loan or not. I am also getting prepared to pay cash if the loan is not approved as plan B. Many thanks for your input!

In a nutshell, should I test my luck with the appraiser to see if I can leverage bank for the purchase? Or that low intial appraisal value would hurt me in the long run when I am planning to refinance after the rehab work is done?

I have a multi family under contract with a 25% down payment using a conventional loan. I'm planning to rehab, rent, and refiance in 6 months (BRRRR) for the first time. 

Will I be able to cash out refinance with 70% loan to home value (LTV) if I have utilized a conventional loan to buy the home in the first place? Or does that ONLY work if I bought using cash without an initial appraisal?

Please advise if I can do BRRRR with conventional financing in step one assuming the bank' appraisal report comes through.

P.S. I'm not concerned about the closing costs associated with financing and re-financing.

Many thanks in advance for your help!

Any recommendation on property managements in Cincinnati, OH?

Thanks in advance!