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Updated over 5 years ago,
Brand new investor. I need advice. I found a couple multi family.
So I have found a couple multi family home, that I know would make great places for renting. Issues I'm running into is
1. I have no money down so I'm using a hard money lender to cover the purchase and rehab.
2. After the rehab, when I try to refinance through a bank. I will more then likely be 10 to 20 thousand short to cover my hard money lender.
3. I'm trying to work with the brrr strategy on these.
Is this something I should walk away from or fix and flip. Or maybe just try and whole sale to another investor?