24. BRRRR – Documentation Required

This is the next installment in a multi-post series on financing your rental investment properties using the BRRRR strategy.


Once you have accepted a term sheet, you shall be provided with a list of documents you will need to submit to underwriting. Let’s shed some light on what exactly you will need to submit for review to obtain a commercial loan.


  1. The lender application which includes personal information about you.
  2. The credit card authorization form. To pay for any up-front application/due diligence fees required to start your loan process, obtain your credit, and pay for appraisals.
  3. Personal financial statement form. You will provide complete disclosures on all your finances, both personal and corporate.
  4. Last two months bank statements. You will need to show at least 3-6 months liquidity of the PITI payments.
  5. Driver’s license.
  6. Tenant leases, Section 8 HAP contracts, 3-6 month rent rolls, and estoppel letters, if applicable.
  7. Current property management agreement from your PM along with a PM questionnaire. Most lenders want to know the PM is a licensed, valid, and reputable brokerage.
  8. SREO Schedule. This includes a list of all the properties the corporation owns including the ones not being financed.
  9. Corporate documents include the borrowing LLC formation docs, articles of incorporation, operating agreement, IRS EIN letter and certificate of good standing from the state in which your corporation is based.
  10. Insurance Certificates showing current coverage is paid in full.
  11. Payoff Letter from Existing Lender, if applicable. You can obtain this directly from the lender.
  12. If you are incorporated in a state different then the subject property, you will need to obtain a Foreign Entity Certificate from the state where the property is located.
  13. Voided corporate check for ACH. This is for the auto draft PITI payments. The lender will set you up with automatic payments each month.
  14. Contact info of your title/closing attorney, property management, and insurance carrier.


This is 90% of the heavy lifting required by you. Remember, most lender’s underwriting team will not start the review process until all these documents are submitted. Once submitted, the lender will also request the appraisal.


Make sure you have a complete list of all documents required before committing to a loan. You want to have all your documents ready after you agree to the term sheet.


Got questions regarding financing your BRRRR properties? Please reach out to me. I am happy to assist.


Jonathan Mednick has been real estate investor since 2002. He is a co-founder of REI Trader, LLC, Real Equity, Inc and REI Brokers. He has extensive experience in all areas of real estate investing and lending. To date, he has completed over 1,900 projects.

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