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Updated almost 8 years ago,

User Stats

8
Posts
0
Votes
Kervin Simon
  • Investor
  • Pembroke Pines, FL
0
Votes |
8
Posts

Should I Flip, BRRRR or is there another way ?

Kervin Simon
  • Investor
  • Pembroke Pines, FL
Posted

Hello BP family,

Happy to be officially part of the team. I have an issue at the moment I don't have a investor mentor just virtual mentors and through self education I manage to get my first rental with an FHA loan 2 years ago. I saved enough money to purchase once more but the lender said my DTI ratio is off with my first mortgage even though I told them its a rental. My end in mind is to have enough rentals to be financially free. I applied with a hard money lender but only got approved for 90k including rehab and I live in south Florida. The lender said I have to close it under an LLC which I created but would I be able to BRRRR if its under a LLC ? Would it be better off to flip and gain capital ?

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