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Updated about 3 years ago,

User Stats

17
Posts
10
Votes
Barry Robinholt
  • Investor
  • Cleveland, OH
10
Votes |
17
Posts

Hard money vs conventional

Barry Robinholt
  • Investor
  • Cleveland, OH
Posted

Hi everyone,

I bought a duplex this year and it's going great. I want to get into BRRRRing properties early next year. I have 2 options I thought of and would appreciate opinions-

1) Use 5% down on a conventional loan for a single family that needs cosmetic rehab. Rehab it while living in it and cash out refi after a year.

2) Get a hard money loan and do a BRRRR that way.

My main issue is running out of money so that is why BRRRR is a great option. I've read Davis Green's book and found it very insightful. I've found some hard money lenders on bigger pockets and they don't seem as intimidating as I once thought. Any opinions appreciated or if anyone has decided this for themselves before! Thank you.

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