A 32-Day Rental Refinance

Hagerstown, MD

$103,723

Purchase

$50,200

Rehab Budget

$260,000

ARV

Two properties, one combo loan, and a refinance that came in ahead of schedule.

This Hagerstown duplex was actually two properties purchased together, and we structured a single combo loan to fund both. The plan was a classic BRRRR: renovate, stabilize, and refinance to hold as a long-term rental rather than sell.

The borrower moved quickly. A $103,723 purchase and a $50,200 rehab budget were underwritten against a $260,000 after-repair value, and the loan was outstanding for just 32 days before refinance. The property appraised above our initial ARV, bringing the actual loan-to-value down to 61.57%, a result that speaks to the borrower's read on the market and the value a well-planned renovation can add.

Deals like this are what a well-run BRRRR looks like: bought right, renovated efficiently, and refinanced fast enough that speed becomes part of the return.

How we lend: We underwrite the plan and the operator, not just the property. When a borrower wants to refinance and hold, we structure financing around the long-term rental, not just the transaction. Figures shown reflect this specific project and are not a prediction of results on any other deal.

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Refinancing to Hold as a Rental?

If you want to refinance a project and keep it as a rental, we can help. Apply online or talk it through with Shaun.

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