The Bank doesn't care how much your Tenant's Rent is (BRRRR Financing) | HoltonWiseTV Highlights
Channel: HoltonWiseTV
Date: 2023-04-24

When investors do their first BRRRR deal (buy, rehab, rent, refinance, repeat) on a single family house, they often get confused about the cash-out refinance part of the BRRRR method. When you're using the BRRRR strategy you've got to understand that the selling price you can get for your property after you've done your renovation and placed a tenant may be different than the appraised value you're going to get from a lender during a cash-out refinance. The reason for this is that investors may buy your single family rental property based on cash flow metrics, while your mortgage lender isn't going to look at how much your tenant is paying in rent when they do your appraisal. When a bank does an appraisal on a single family property they use very different metrics than another rental property buyer uses. Tune in to HoltonWiseTV to learn more about BRRRR financing and how to make the most money using the BRRRR strategy.


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