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Updated over 8 years ago,
How many ways can I structure a $28k BRRR SFH?
Hey there BP family. Normally I would never plan to take a loan for an investment. My wife and I follow the Dave Ramsey plan for Financial Peace and only purchase what we can afford. Our company business model seeks the same, pooling investor funds for long-term positive cash flow for all parties and growing the company in the process. Recently, however, we found a great BRRR opportunity for $28k, requiring only $10k-$12k for rehab and anticipating $650-$700 monthly rental income. In short, $40k up front makes this deal work. Did I mention it is located immediately next-door to the edge of the town's growing commercial venues; i.e. it seems highly likely to convert to commercial within the next few years. We want to jump on this opportunity quickly and may not be able to pool $40k together quickly enough to buy and rehab with all cash. Since I am uneducated in lending processes outside the standard mortgage loans, please enlighten me and share how you might structure the finances for this opportunity.
Cheers!
-Brian