Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

3
Posts
0
Votes

Strategy buying next house

Posted

Ok I need some directiom here...advice...

So I purchased a Farmhouse for 75,000 to rehab...we paid cash for it so no loans!

It will be done here soon mid April beginning of May. We are using the BRRRR strategy. We will do a cashout refi.

In the meantime I found another home to rehab we are the contractors we do all the work. Its a really good deal less then 75,000 I've ran all the number's using the goldan rule ect....what is the best way to purchase this next investment proper? I will double my money when I do a cash out refi.....but I don't want to wait until the Farm house is done because that was the strategy I was going to use once I do the cash out refi but i really wanna scoop this next investment property up!!

what strategy is the best approach. I also, do not want to take out a 2nd mortgage on my current house want to leave it completely out of the equation. The chances of getting a hard lender against the Farm house is slim since its not remodeled and done and there is no appraisal on it...I only need like 30,000. Once this house is done will do same thing do a cash out refi....but in meantime I want to secure this house!!

What's best strategy or best way to go about this?

Thank you

Loading replies...