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Updated over 3 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Salt Lake City, UT
17
Votes |
27
Posts

Help Getting Started

Account Closed
  • Real Estate Agent
  • Salt Lake City, UT
Posted

So this may be a simple question, but I'm struggling to understand how I myself can begin implementing the BRRRR strategy.

So assuming I find a fantastic deal, cosmetic upgrades needed and well under market value, and I find a partner or lender who is willing to provide some capital for the deal, how am I supposed to get the property and get the money lender out if I myself am unable to be approved for a bank loan?

If the lender puts up the money, we put both names on the title and then I try to refinance and buy them out, would I be approved to get a bank loan? I don't have 2 years worth of employment history and have been denied loans because of this. Would I just have to split the deal indefinitely with my business partner?

Thank you for your help!

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