70k cash how much BRRRR can I buy with hard money

[Kevin Marquez]

Hi everyone I have a quick question!

I saved up $70k this year and want to buy my first BRRRR. My only concern is when I get a hard money loan do I need 20% of the ARV (for acquisition and a loan for the renovation)

second how long does the refinance process take after I fix the house?

So yes, two questions. Or should I wait and save up 120k ish. I'm looking to buy a house below 200k with a 350-430k ARV.

My fear is that I only have enough money for the down payment and not enough reserves.

Thoughts?

THANK YOU!!

Kevin Marquez

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