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Updated about 2 years ago on . Most recent reply

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Zach Rozmarniewicz
  • Detroit, MI
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Private money and BRRRR method

Zach Rozmarniewicz
  • Detroit, MI
Posted

Has anyone used private money with the BRRRR method? Looking to do a few deals, but trying to preserve capital at the moment (wedding in a few months, purchasing new house, etc.). How are these deals with the lender typically structured? Is the refinance process the same once I find a small bank? Looking to pick someone's brain to make sure I understand what I am getting myself into.

Thanks!

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied
Quote from @Zach Rozmarniewicz:

Has anyone used private money with the BRRRR method? Looking to do a few deals, but trying to preserve capital at the moment (wedding in a few months, purchasing new house, etc.). How are these deals with the lender typically structured? Is the refinance process the same once I find a small bank? Looking to pick someone's brain to make sure I understand what I am getting myself into.

Thanks!


Your best bet is likely going to be to get a lender that does both hard money for BRRRR purchases and the refinance loans as well (all in one shop). That way you don't have to start all over again with another bank or lender for the refinance and they can be more flexible throughout the process

  • Robin Simon
  • [email protected]
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