New investor- Trying to figure out financing to cashout

[Todd Kendrick]

I am trying to find financing for deals while using the Brrr method, so I can recycle my cash and don't have to come out of pocket. I mean who has money laying around to put into a property and stop at one deal.

I know there are alot of different ways trust me I have spoken with alot of lenders by trying their flip loans, dscr loans, but nothing seems to allow me to cash out refi and get my money back.

Simple example 120k pp, 40k rehab, arv 220k , with about 1500 rent- seems reasonable

Can I get examples of what everyone else is doing.

Thanks

[Vanie Mikaelian]

Quote from @Jim Duncan:

Quote from @Todd Kendrick:

I am trying to find financing for deals while using the Brrr method, so I can recycle my cash and don't have to come out of pocket. I mean who has money laying around to put into a property and stop at one deal.

I know there are alot of different ways trust me I have spoken with alot of lenders by trying their flip loans, dscr loans, but nothing seems to allow me to cash out refi and get my money back.

Simple example 120k pp, 40k rehab, arv 220k , with about 1500 rent- seems reasonable

Can I get examples of what everyone else is doing.

Thanks

 Hey Todd,

You mentioned you already spoke with lenders who can offer DSCR options, so maybe there is some additional reason why you can't do a DSCR cash-out, but we certainly can do them. There are loan limits and restrictions for using the ARV, of course, depending on the timeframe since you purchased, but I'd be happy to look into any scenarios for you, if you want? Please feel free to DM me, if you'd like me to check what we can do on a specific scenario for you, or if you have any additional questions about the process. Happy to try and help.

 Hi Todd, your best bet is going to be private money. Look for someone willing to charge simple interest for five years. This means not amortized. After five years your exit would be a cash out refi to pay off the PML. We call this type of lender a Camel. Let me know if you need me to reach out to my network and connect you.