All Forum Posts by: Jackson Malcolm

@Adrienne Green Thanks Adrienne!

@Keegan Uderitz Feel free to shoot me a PM, would be happy to see if we could help you.

@Carson Wright Hey Carson, this is great! Feel free to shoot me a PM, I’d love to help any way I can.

@Adrienne Green @Chloe Kim Here's a BP thread from a few years ago on this same topic. 

@Adrienne Green @Chloe Kim This is a topic I've seen come up before that falls into a little bit of legal gray area, and I've seen interpretations of the laws vary widely. You are dealing with both the Fair Housing Act as well as the Fair Credit Reporting Act. When the tenant signed up with your PM company, they should have signed an information/credit release with that company, technically allowing that company only to pull their credit/personal info. You may not necessarily have a right to at least the credit information because the tenant did not agree to release it to anyone but the PM. Where it gets fuzzy is the fact that you have an agency agreement with your PM company and they are acting on your behalf, and the fact that you own the house. Bottom line - I've seen people with strong opinions both ways and you'd need to have a lawyer research this to get a definite answer.

@Andrew Postell This is great - this and your post on how to structure a cash out refi answer my question perfectly. @Troy Miller Andrew’s post should help you as well!

Hey BP,

I recently completed the rehab and placed tenants for my first single family BRRR deal in Chattanooga, TN. Now it is time to refinance!

I have been hearing from lenders that it is a Fannie/Freddie requirement to wait 6 months from the closing date before refinancing, or it falls into the “delayed financing” category, where you can only get financing off of the house’s purchase price - not the new appraised value.

I purchased the property with cash, and am 100% fine to wait the 6 months and collect pure cash flow if I have to, but I have seen numerous stories in the BP forums of lenders that do not have the seasoning requirement.

My question is - Do any of you know of lenders who will do a 30 year, fixed rate refi that do not require 6 month seasoning? Any related advice on the refinance is appreciated as well, as this is my first venture into BRRR.

Thanks!

Great to meet you @Troy Miller !

I’m a local property manager and investor if you’d like to chat and get a lay of the land. Always love to welcome people to town!

I’ll shoot you a PM.

@Patrick Allen I would recommend Tunnel PM! If you’d like any details, just shoot me a message.

@Daniel Barnhart Welcome to Chattanooga! It is a fantastic city, both to live in and invest. If you're looking for more local connections, I'd be happy to get you plugged in with our network. I'll send you a PM. Welcome!