If this is in California, the folks refinancing may encounter a county transfer tax, $1.10 per $1000 in value.

Account Closed  You should keep in mind that you are refinancing and pulling all of your initial investment out and then some putting $32K in your pocket. 

When we originally did this, it was through a B lender with high rates and we refinanced after 1 year.

I wouldn't have to worry about the cost of refinancing if I went with a conventional mortgage and it seems a lot easier/cheaper estimating a 6% interest.

I wouldn't have to worry about the cost of refinancing if I went with a conventional mortgage and it seems a lot easier/cheaper estimating a 6% interest.

The last BRRR I did is at 15% and I haven’t even refinanced yet

I own a 3-2 SFR in a B class neighborhood with great schools and very low crime, valued at around $315K which I purchased back in 2010 for $150K and refinanced in 2014.

If you refinance a property and then sell it, Who pays the interests for refinancing?

If you've already got a low primary mortgage rate and refinancing wouldn't help, the HELOC is still a great idea.

Hi @Casey MaedaOriginally, this is where I wanted to invest, but I can’t find properties that make since in term of passive rental incomeBesides, the prices for units are really hi, and I’ve been away from Montreal for the past 20 years, and I don’t have income over there, so going for loans and mortgages, is going to be challenging But I have a commercial property in Egypt that I’m selling and planning on taking the cash to Canada What made me go or think of New Brunswick, is, I could buy 3-4 buildings with 2-4 units each; with that same amount, I could probably buy a unit in Montreal or even Ontario That being said, the plan is to use all the cash to buy buildings with most rental units, operate for a year, to prove income and build up credit, then go to refinancing and begin in the BRRRRing strategy In my belief, this is possible in Saint John (I could be totally wrong), but I believe to be difficult to almost impossible in MontrealBut if anyone could advise me, if my plan is correct or does it needs changes, and perhaps, if anyone from Montreal could assist, in whether what I’m saying is away from the truth Mind you, I’d love to start it in Montreal, I’ve lived there, and was managing a few units, for short term rentals, but trust me, it’s a huge headache Thanks everyone and awaiting your thoughts and advices Amr