Probably is I can’t find the 300,000 banks want to have 20% down.

I wanted to know if anyone in the Charlotte and surrounding areas have had any luck with the BRRR strategy and if so, what bank or lenders did you use for the cash-out/refi? 

I understand it’s pretty much impossible with today’s banking regulations, but just curious if anyone has pulled it off in the last 5-10 years?

I just never done this with a buyer using a bank loan and wanted to know if anyone has successfully used this strategy before.

My main motivation for financial independence is our substantial health issues keep me wondering what the future holds for us and how long are we able to enjoy our 3 loving kids.

Remember, you are handing the keys to your bank account over.

My wife tried co-signing, but now the bank wants me as a co-signer too.

@Nicole Heasley  If you're looking for a lender for a 6 unit complex, I would bypass this guy and just reach to smaller local banks in your area, and look for the commercial lending department. 

If a property that is worth 5.3 million today at 6% cap approximately, can be bought at 5% interest rate; if the same property I could get at 4.3 millions in 2 years if the market falls, then interest rate possible at 6-7%, my cash on cash may be better but still not significantly better due to the higher interest rate, plus opportunity costs of sitting on capital for 2 years (1.3 million investment earning 1% bank interest instead of 7% COC if invested, loss of tax break depreciation, total loss may equal 200k loss in profit), plus increase in the rents and some value add could increase the cap from current 6 to 6.7 or so in 2 years.Unless, I find another source that can give me a COC of 7%, sitting on cash for 1.5-2 yrs for market to correct may itself be a loss.

It is a great City and I enjoy living there.I’m enjoying learning new things from what BiggerPockets has to offer in all types & formats.