Financing suggestions with first BRRRR property please!

[Chris Witham]

I am about to make an offer on my first BRRRR deal. I am guessing a fairly light rehab at a total of $25k-35k depending on the level of improvement I go with. ARV in the $185k-190k range. My goal is to get in to the deal and get it rented fairly quick then refi in to a conventional 30 year fixed. What I am looking for is suggestions for how to get the initial funding for the deal. I have 20% available if necessary for down payment toward the cost of the purchase as well as the rehab costs. I have a sub contractor that I have worked with before that I trust that would do the majority of the work and others I have networked with. I was hoping to avoid a GC and just hire subs myself. My credit is good and DTI is very low and I could easily float the mortgage with zero tenants from my w2 job and still have good debt to income ratios. Any suggestions on how to secure funding for the deal? Who to contact? Is 20% necessary or are there options for less of a down payment? I am not familiar with hard money or private money but those types of relationships seem to be the way I should be looking to develop relationships for future deals. Also I have heard that conventional rehab loans require a GC and I would like to avoid that. Location is Brevard county Florida. In accordance with BP rules I am not asking for a lender to make an offer simply looking for some direction on how to proceed. Thanks to anyone who can help.

[Lee Ripma]

@Chris Witham

Cash

Private money

Hard money

You want to go in with cash or cash equivalent, do the rehab, the put conventional mortgage on 6-12 months later.