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Updated over 7 years ago on .
BRRRR and Purchase Loan
Hi folks! First post here so forgives the ignorance... I feel like I'm missing something about the purchase money loan in a BRRRR deal. Why is there a need to use cash or hard money at the time of purchase? Is a standard portfolio lender not going to give a 75% LTV loan before there is rental income?
Related, is a personal investor guarantee of either loan repayment standard or is only the LLC (with property) liable for repayment?
Other notes:
- In California
- $300k - $500k purchase price
- Single family
- Moderate rehab