All Forum Posts by: Jay Hurst

I keep running into a road block. I am on my first BRRRR and the issue is lenders keep only wanting to lend on 80% of the purchase price and not the actual appraised value, which would keep my money tied up on the rehab portion as well as 20% of the purchase price. Is there a way to get the 80% of the appraised value out? Is BRRRR dead with institutional lenders? Or am I missing something?

My personal credit score is a 780 and I have multiple other properties but still not busting the DTI metric.

Hello, everyone.

I'm a newbie looking forward to getting started and getting my first BRRRR deal. My biggest struggle right now is understanding whether to get a HELOC on my primary home or do a cash out refinance so I can get started. Can you all give me your thoughts, pros and cons?

I owe around 168k on my primary but the last appraisal about 1 year ago came in at 422k. There's a lot of equity here I can tap into, but I just need help with the options.

Thanks for the help!

Chris

 Hey Jay - this is super intersting. Rental is in MO unfortunately here but are you aware of anyone else who has similar products serving MO? 

Hi everyone!

I am looking at purchasing my first investment property around Q3 of next year. I am leaning toward a house hack in a duplex and trying to figure out to do this. The goal for this investment would more cash flow focused with ideally a bit of appreciation as the secondary goal. I've looked around a little bit about where I'd like to move. Honestly I am not sure how to filter the data or which data I should be looking at when analyzing a deal. Can anyone help me figure out the right metrics I should be analyzing? Any tools I should look into for these metrics? Also what other questions should I be asking along these lines?

Thanks!!

Hi all - I have a traditional 30yr Fannie/Freddie loan with 25% down on a duplex that is currently rented out and cashflowing well. I have forced an additional 30% of appreciation through some redesign and repairs. Are there any loan products I’d be able to cash-out refinance into before 12 months of seasoning? I seem to get mixed messages in my research. Thank you!  

Hello, I have a property I purchased with cash and renovated and am now looking to refinance. I have spoken with my bank and feel as though there are better avenues than getting a mortgage with them. If anyone has any suggestions or advice, that would be greatly appreciated. Thank you!

Hello BP!

I'm a new investor (just closed on our first rental - a long-term duplex)! We want to keep trucking down our investing road, but have a few barriers. The first being, we retired my husband out of corporate hell in September (yay!), but going all in on my self-employed business as a financial therapist means two things: 1. We don't have a ton of extra income to be saving for our next investment property and 2. We don't qualify for a conventional loan.

We bought our first rental with a DSCR loan with 25% down and interest rate of 7.5%. (Paid $199,500 and monthly rent is $2,150!)

Additionally, as my business is fully remote, we are moving to Costa Rica for one year - all of 2026! Which means we are going to rent our primary residence. For context, our house is on a 15-year conventional loan with a 2.25% interest rate. We have about $170,000 of equity in the house (but because of our employment arrangement we don't have access to a HELOC. And honestly, I don't know if I would want to be super leveraged anyway).

According to the lenders I've spoken with, we can't do a cash out refi either. I think, as we plan to rent it for all of 2026, we could refi into a DSCR loan? However, we would be losing our 2.25% interest rate and be moving to a 7.5% rate. BUT that $170,000 would give us the potential to buy a few more long-term multi-families.

I'm absolutely positive that there are things I'm not considering, but any help, opinions, and considerations would be appreciated! Thanks!

Hello! My name is Nate, and I’m on my 3rd deal as of now. However, we (wife and two kids) own this 3rd deal and want to keep it as our permanent home. We have lived in our other two deals, made money on both, but I have no idea how to do another deal safely without living in it. We have 40k in cash and 100k equity in our current residence, but we don’t want a larger house payment than what we have already. How do we stay in the real estate game while minimizing our risks?

Hello fellow BP'ers! 

When refinancing, do you normally have a tenant in place before the appraisal, or refinance while the property is still vacant? I understand this may have an affect on the appraisal. In your experience, does one approach lead to better appraisals, loan terms, or overall outcomes? Would love to hear your insights!

I'm in a position I've never been in before.  Just closed on a couple of properties a week or so ago.  They were rehab properties so I purchased under a construction loan.  Took my reserves for down payments to a level that won't allow for another purchase at this time.

Given this, as luck would have it, an amazing opportunity that only comes once in a great while came to me.  I've never used hard money for anything before so I'm not sure that's an avenue for me.

Im hoping someone can maybe explain the ins and outs of this type of financing.  Risks/rewards, benefits/pitfalls of hard money to me...what are they?  I understand the overall concept of it but since this has never been an avenue I have used it's unfamiliar and foreign to me.