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Updated over 4 years ago,
Seeking Input on my BRRR Plan
Hello BiggerPockets Family,
I'm putting together my plan to BRRR a property. Can you look at my plan below and provide input? My biggest question is whether I'm legally allowed to fund the rehab with a business credit card even though the property is under the LLC, yet. Anyway, whether it's good or bad, any input is appreciated!
1) Secure funding for a property (probably my personal funds)
2) Create an LLC and secure business bank account & credit card
3) Secure a property (in my name)
4) Fund rehab with business credit card
5) Find and place a tenant into the newly renovated property
6) Cash-out refinance the property into LLC
7) Repeat