All Forum Posts by: Ola Owoyemi

Did you purchase it with a 'fix and flip' or rehab loan that you are looking to refinance out of? Or did you just buy it in cash and are wanting a refinance?

I got an off market BRRRR project that was mostly cosmetic and completed in about 10 days with a HML. It’s a rehab loan and I’m looking to cash out refi.

1 Vote

Quote from @Vadim F.:

Are you planning on doing a cash-out refi or rate/term? If its rate/term you don't need seasoning and is done current appraised value.

I am planning to do a cash out refi.

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Any lender offering cash out refi using DSCR loan without seasoning period. The rental property is in MD.

2 Votes

Quote from @Nicholas Ruscio:

Hi Jordi,

I can send you mine! PM me your email. It’s an excel sheet.

Hi Nicholas. Would appreciate if you can forward me as well. Thanks!

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Thank you all for the great advice and suggestions!

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Quote from @Sean Monahan:

Hi @Ola Owoyemi,

There are good neighborhoods in and around Baltimore that will provide cash flow and appreciation. Have you looked at applying your strategy here?

I have not been able to find good deals in the area recently hence my thoughts to starting looking OOO.

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Quote from @Nicholas L.:

@Ola Owoyemi

just curious, why not BRRRR in Baltimore since you already own properties there?

It’s hard to find good deal these days so I thought I should look more OOO.

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Hi everyone!

I have been an inactive Bigger Pockets member but this is my first post.

I live in VA, I have a few rental properties in Baltimore, MD. I am looking to start investing out of state using the BRRRR strategy.

However I have a few questions:

1) What states would you advise to look at for BRRRR? I am looking for both cash flow and reasonable appreciation.

2) Some people suggest to buy with cash 100% while I have seen others suggest to take out a loan. Which is better for the BRRRR strategy?

I look forward to connecting with others - especially those that might be BRRRRing out of state! Looking to connect with contractors, agents, lenders, and other investors!

Any advice is welcome!

5 Votes

All Forum Posts by: Ola Owoyemi

Ola Owoyemi has started 2 posts and replied 8 times.

Post: Cash out Refinance using DSCR loan without seasoning period

Post: Cash out Refinance using DSCR loan without seasoning period

Post: Cash out Refinance using DSCR loan without seasoning period

Post: BRRRR Calculator Help

Post: First OOO BRRRR

Post: First OOO BRRRR

Post: First OOO BRRRR

Post: First OOO BRRRR