Why You MUST NOT Use Mortgages with BRR

Buy, Refurbish, Refinance (more commonly known as BRR) is a technique often used by property investors and property entrepreneurs; but why should you avoid financing these opportunities by way of a mortgage? In this video Kevin shares his insight on why mortgages are a bad idea when it comes to BRR deals.

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[samarshi]

Very good advice which is often overlooked. Thank you Kevin

[bayomabo]

Thanks Kevin I found this video very informative 👍🏽

[Giuseppe_coachgius]

what if you BRR without taking equity out but only consolidating the loans and minimise the monthly repayment? Essentially a one off project without creating an additional mortgage and/or selling the property.

[Niracka]

Great video Kevin! Cleared things up for me

[jaynewong]

Hi Kevin, what a great message for a newbie! I always learn that property investors are doing BRR but they never tell you about this mortgage lending knowledge. Many thanks. I visited your website for some online courses but there are quite a few choices, can you please recommend me which one I should start with. I have just started my property investment journey without any landlord experience yet, is bridging finance not for a beginner? Thank you.

[ZuluZuluEcho]

Sir if I take an fha loan and have mortgage debt would that affect me doing a brrr property a year later? I would really appreciate your help thank you! Thank you for the good info as well

[ruairigogan]

So what length of mortgage is considered OK after the cash buy?

[Meg-dbij]

Finally, someone not blowing smoke up my arse.

[daleyjohnson]

Hi kevin that again for the great content.
So is it possible to get a bridge on a BRR 6-8 bed HMO conversion. With the potential of a cash flow valuation?
Without any property experience?

[trulyshocking]

Great video, if you pay the mortgage within the fixed period they stand to make a good healthy margin from the penalty. How easy is it to get a bridge loan? Any advice?

[liamrichardson]

What about remortgaging about 1 year into a 2-year fixed rate? Will they frown upon you after 1 year even though you’ve paid the early redemption fee?

[jamster]

What if you intended to Buy, Refurbish, Revalue the mortgage based on the new value of the property and then rent it out?

[mackenziedeliveries]

Hi Kevin,

Another great video. I have a couple question for you, as you seem to mention financing deals with bridging finance companies. You seem more enthusiastic about this approach more than any other property preofessional, as it is mentioned in your videos fairly regularly. Is there a specific company you recommend, and if so, are you involved in this company as a director &/or shareholder?

[robsweatherchannel]

How can I get 20k plus then many bridgers are like more security or 60 to 70% for min purchase of 50k....nothing for first time buyers at all!

[unicorntastic]

Dear Kevin, when I asked my mortgage broker that I would like a BTL mortgage and I definitely would like capital out before 2 years so what were the options.
He said I could choose a tracker mortgage. He said you can exit trackers any time without any penalties. He said they charge a higher fee because of this.
So could I choose a tracker mortgage and exit any time after 6 months ideally.
Even though you are allowed to exit any time, does it still affect the future lending and makes me look bad?

[David-ghqc]

Nice vid! What about getting a mortgage with no early termination fee charges? Would that still blacklist you?

[ralucauk]

I have never heard a property investor advice to buy a property with a mortgage! In fact, if possible buy a property that you can't get a mortgage on. Once you refurbish it, then you get a mortgage

[will]

Hi Kevin, thanks for the video.

How does this work where you decide to renovate an existing BTL you own? To give a scenario: if a landlord decides to renovate a mortgaged BTL in the void period between tenants, but wishes to remortgage at the end of the renovation to pull some cash out, would this be ok or would lenders frown upon it?

[healthiswealth]

wouldn't a delayed exchange completion using a commercial mortgage (eg. getting a mortgage after you refurbish not before) get around this?

[Sammunro]

Hi kevin i am looking for buy to let properties that are in need of a medium refurbish and then be looking at putting a tenant in and remortgaging to the new property value to use towards my next property, with this video you have posted is there any issues with that.
Thanks