BRRRR question/Dilema any help would be appreciated

[Alejandro Vargas]

Hi BP community,

I’m a business owner who does remodeling for a little over two years

I was a multi family manager for 19 years. (So tons of experience managing tenants)

Here is where I Need some help I'm looking to start my BRRRR portafolio in Atlanta or nearby markets

My dilema is once I buy the property with hard money ( as prices in Atlanta are a little over ($100k purchase plus rehab money) for a decent area.

I’m stuck on which bank/lender will help refinance the house after is rehabbed to pull out the profit to go on to next house with me been an owner with a young business.

Here is a little more info to help :

I have $50k available to invest

Have decent credit in the 670 to 700

I have my company tax filings from 2018 and 2019.

Have done several flips for myself

And have all the crews needed to do rehab to a house( they all work for my remodeling company)

What would you do ? How do I get the money out after the house is rented?

Who can lend to me personally/or my company to be able to refinance?

Thanks in advance.

[Kenneth Garrett]

@Alejandro Vargas

I would look for commercial lending in your case.  Your income is from your business.  Not the favorite concept for residential lenders (no W-2 income).  I always try to work with local lenders/credit unions.  Start contacting lenders and ask about what options are available to you.  You’ll get some no’s but keep calling.