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Updated over 2 years ago,
Navigating through our first BRRRR
Hey Everyone - I hope all is well.
My partner and I recently completed some light rehab on a duplex that we are holding in Philadelphia. For the first deal we did a FHA but came out of pocket for all rehab. We found that's not super scalable and are now looking to get into our first BRRRR (without coming out of pocket with the funds).
I was hoping someone could offer some advise or recommendations on the lending aspect. This is our first official flip so many hard money lender don't have great terms or won't want to lend to us all together since we only have rental experience. Would be great if someone could give an idea of what theyve done with a private money lender or local hard money lender they had success with when they started out. Would be awesome to get lender names in philly/south jersey area to connect with if at all possible.
Thanks everyone!