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Updated over 5 years ago on . Most recent reply

User Stats

36
Posts
42
Votes
Kristian Conway
  • Contractor
  • New Orleans, LA
42
Votes |
36
Posts

Lending Options: BRRRR ALMOST THERE

Kristian Conway
  • Contractor
  • New Orleans, LA
Posted

So I am about 75% through my first true BRRRR deal and my last bit of funding has fell through. I made the mistake of buying the house using a conventional loan and have funded the rehab through a combination of personal capital and 0% APR credit cards. I've learned a TON through the process especially what not to do and what I will do better on the next deal. The cash-out will not only cover the renovation expenses but leave me with a conservative $10k in cash for my next deal. HOWEVER, now I am stuck trying to get over that hump to get enough capital to finish the deal. I am looking to most likely do a HML, however, I have struggled to find one that will do such a small amount <$10k. My credit score was very strong prior to the deal but has taken a hit due to the credit cards, so I am looking to avoid more credit hits if possible.

Any ideas or options?

  • Kristian Conway
  • Loading replies...