beginner financing strategy?

[Jonathon Martineau]

What's the best strategy to obtaining the best possible financing strategy? I am getting to the point where I'm comfortable to start aggressively going after my first deal but want to make sure I do it right. I would love to hear from people that have used multiple strategies.

Obviously the BRRRR Strategy seems to be fairly popular. This strategy is very appealing to me, but I would have to use hard money since I don't have a large amount of cash laying around. The thing that scares me about hard money is the short time I have to turn around the property. I believe I could achieve rehabbing a property in under 6 months, but if something happens to where I can't, I would hate to be stuck in a hard money loan.

Another way I would like to finance a property would be a conventional loan that covers rehab as well. I would gladly put 20% down if rehab was covered. Unfortunately, from what I've read, getting a bank to cover purchase price and rehab seems tough to achieve.

I know there's a lot of ways to get a deal done. What are your thoughts on the best financing strategy for someone who doesn't want to expend all their cash just on a project?

[Whitney Hutten]

@Jonathon Martineau I like your drive... Here is a guide on how to use bank/hml/pl monies to finance your BRRRR projects. You'll notice, 95% of the work is done before you even close on the deal. Also, I would at least double timelines right now to account for stay-at-home orders. Additionally, keep all fix/flip financing to 12+ months. I think those investors that do 6-month financing will be sweating it or get horribly stung! PM me with Q's!