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Updated about 6 years ago,
BRRRR strategy financing
Hey guys, I know it's gonna be a pretty newbie question, and I've been trying to figure it out, which I think I kind of did but I'mnot confident.
I feel so stupid asking, but, anyways, here goes the question:
Let's say I have the money for the downpayment but it is a fixer up property so I can't get a traditional loan.
Should I get money from a hard money lender (or private money lender) to buy the property and rehab it, then do a traditional loan?
It gets somewhat confusing because in the BRRRR, Refinance comes after Rent.
I'm sorry, because of my lack of vocabulary it gets frustrating for me to write this here. I did the best I could. I hope it was enough to make you understand my topic.
Thank you for your time and patience.