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Updated almost 8 years ago on . Most recent reply

Jeremy Karja's profile image
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Jeremy Karja
  • Rental Property Investor
  • from Elk River, MN
  • Member since Oct 19, 2016
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Jeremy Karja's profile image
Jeremy Karja's profile image
Jeremy Karja
  • Rental Property Investor
  • from Elk River, MN
  • Member since Oct 19, 2016
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Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
10
Votes |
102
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Buying & Selling Real Estate

Why use hard money in the Brrrr strategy vs starting with a loan?

Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
Posted

I know this is a basic question but my wife asked me and I did not have a solid answer other than I know it is the process in everything I have seen. And by hard money I also include other cash methods such as personal cash/HELOC to buy the home then get another loan on it later VS just taking that loan out up front? Just to get you cash back from fixing it up right?

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Jason Hirko's profile image
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Jason Hirko
  • Lender
  • from San Antonio, TX
  • Member since Apr 11, 2016
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Jason Hirko's profile image
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Jason Hirko
  • Lender
  • from San Antonio, TX
  • Member since Apr 11, 2016
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Jason Hirko
  • Lender
  • San Antonio, TX
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Jason Hirko
  • Lender
  • San Antonio, TX
Replied

1. Time to close

2. Rehab funds as part of the loans

3. Property condition not considered 

4. Easier borrower qualifications

3 Votes
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