All Forum Posts by: Johnny Sweet

Hi @Rese White, we are using a local lender here in Phoenix: OnQ Financial. They've been great.

@Sean Blomquist we are pulling cash out, so your explanation makes sense. Thanks for the clarification!

@Aaron K. gotcha. Glad to know other BRRRR investors end up waiting six months as well. My main reason for wanting to re-finance sooner is just less exposure, our numbers still work with the HML interest.

@Tyler Gibson I will look into delayed financing as a possible strategy for the future. Thanks for the tip!

Hi everyone! I purchased my first BRRRR investment property in June (via MLS) with hard-money financing. We rehabbed the property, placed tenants, and are in the process of refinancing into a 30-year mortgage. So far it's going well, however...

I spoke with five different lenders this summer, and all of them said there is a 6-month minimum for when they can factor in a new appraisal on a refinance. Prior to six months, they would have to use the original purchase price, which obviously doesn't help me.

Has anyone successfully found a way around this 6-month requirement?

Note: I'm in the Phoenix, AZ area.

Brand new BP member and AZ REALTOR here looking to make some local connections! Really excited for this event! Thanks for hosting, Shiloh!