So... I have been thinking.

[Jerryll Noorden]

I somehow am getting several really good deals.

One of them is crazy good. So a bit about me ... I don't network, I don't partner, I am not a people person.

I know REI is ALL about networking and partnering...

The thought of touching OPM just gives me the shivers.

But now however... let's say I get this amazing deal. For deals like these isn't it "better" to do the flip yourself to basically get the wholesale fee + flipper's profit all for yourself?

I guess I am hoping I can convince myself to take the plunge and become a more serious investor and play like the big boys...

So now I am looking into taking that awesome deal, get funding somehow (private lenders/ hard lenders), buy rehab flip, and then BRRRR it?

That is how to do it right?

So correct me if I am wrong..  let's say I get a property for 20K and arv is 200K (these are just numbers I pulled out of my marblely sculpted butt). Repairs are let's say. 40K.

So I get a PL to pay  60K.

But now the house is worth 200K. So I refinance it for 200K right?

I get 200K (do I get the full 200K?)  and then pay a mortgage? and then pay the lender back his  60k..

Thus leaving me with a freshly rehabbed 200K property, + 140K (minus the lender's fee) in cash? (while I started with 0?)

This just seems like a perpetual energy machine.

Something can not be right.

I start with 0! and suddenly poof I have a new house and 140K in cash to play with?

Say it ain't so!