I want to get started in Real Estate Investing, I have a paid off home in Arizona. looking to refinance and do the whole BRRRR Strategy BUT the problem is that i am a foreign national and refinancing my home is nearly impossible I've called close to 20 banks and private lenders and most of them dont even deal with foreign nationals and the ones that do make it nearly impossible to invest with the high points closing costs and rates. what i was thinking of doing is adding a U.S. citizen ( partner) to the tiltle of my home in order to refinance thru them and gt the best rates most money and lowest closing costs possible.

It is now worth around $850k, although they refinanced it once so there is a loan out for around $300k. 

I want to get started in Real Estate Investing, I have a paid off home in Arizona. looking to refinance and do the whole BRRRR Strategy BUT the problem is that i am a foreign national and refinancing my home is nearly impossible I've called close to 20 banks and private lenders and most of them dont even deal with foreign nationals and the ones that do make it nearly impossible to invest with the high points closing costs and rates. what i was thinking of doing is adding a U.S. citizen to the tiltle of my home and having a Co- Ownership Agreement in place in order to refinance thru them and gt the best rates most money and lowest closing costs

My question is, what are your opinions on refinancing for less than the appraised value. 

Also, depending on how the value of the property increased by adding that third unit, plus natural appreciation and paying down on the principal, you could look at refinancing out of the FHA loan to get rid of PMI.

I heard someone mention on one of the podcasts that his commercial loans can be refinanced almost immediately upon completion of the rehabbing. 

I owned this place for 2 years, and refinanced 1 year ago.

However, refinancing is a crucial step in my strategy and I would like to know what I'm getting into beforehand.

My first buy house was tri-lever home that I got for 152K with 3.5% down on a 30 year with a 5.5% interest rateOnce I got married and had our first child, We refinanced to a 15 year mortgage with a 3.5% interest rate.

I purchased my 2 family in December 2013, great area in the Bronx, and although I waited a bit longer then I may had to, I am in the process of refinancing, dropping my overall payment by $500 and will be able to use FHA again if I choose to.