Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

8
Posts
1
Votes
Garret Adkins
  • Charleston, WV
1
Votes |
8
Posts

New investor looking for advice on BRRRR, LLC, and lending.

Garret Adkins
  • Charleston, WV
Posted

HI BP members,

I am currently in the process of obtaining my core four. I have not purchased a rental property before so I don't have the experience. I've read as many books as i could and listen to the BP podcast religiously. My plan is to find a portfolio lender and try to come up with a line of credit with them that I can take out for purchase and rehab. After the rehab and renter is in place convert the credit I took out into a mortgage. I plan to BRRRR as many houses that I can providing I still have credit to buy with. I live in a decently cheap market (houses under 100k).

I have a few questions. 
1. Should I start an LLC before buying my first property or get a few properties under my belt and convert them over to an LLC?

2.Instead of the line of credit with portfolio lender,should I use hard money then do cash out refi with a portfolio lender?

I know I had some more questions that I can't think of at the moment.

Any help getting started would be greatly appreciated.

Loading replies...