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Updated about 8 years ago,

User Stats

215
Posts
10
Votes
Ray Agosto
  • Specialist
  • Somerset & New Brunswick, NJ
10
Votes |
215
Posts

BRRR

Ray Agosto
  • Specialist
  • Somerset & New Brunswick, NJ
Posted

I found a great single family house in my town. I wanna buy it and use it as a rental so i can become a landlord. I wanna do the BRRR process as in Buying it , Rehabbing the little things , Rent it out locally , Refinance it from the bank.

Now here is where i need help?

Each step

Buy : where can i find  PML that will lend me enough for the buying of the property , closing costs and the little cosmetic stuff ?

Rehab : Should that be out of pocket or do i include that in the numbers for the PML 

Rent : I know i could rent it as a college rental ( not to for from the college campus )

Refinance : Would that be just a normal loan ? or a mortgage loan of the amount i took out from the PML ? 

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