Obtaining our first BRRRR

[Cody Burke]

My wife and I have partnered and completed a flip with around 10% return on our money invested. I am wanting to build a rental portfolio of single family houses with the BRRRR method. We are wanting to acquire properties without partnership but not for sure how to obtain without having surplus capitol to purchase outright. We are not really interesting in house hacking. Any feedback would be great.

[Anna Buffkin]

@Cody Burke

What you described is how I BRRRR. I buy using a commercial loan for SFH from a local credit union which allows 20% down on purchase and cover 100% of repairs per contractors quote. I then refinance once repairs are done at 80% of appraised value. On my last property, I purchased on March 5th, rehabbed, and rented it out on May 1, started refi loan on May 3rd, and closed cash out refi May 24th.