Financing the initial BRRRR with a conventional loan?

[Tyler Smith]

If you have a bank that will loan on your BRRRR and then refinance through the same bank. Is it worth paying the closing cost twice, with the other fees?? Or is it better to get hardmoney?

[Caleb Jordan]

Originally posted by @Tyler Smith:

If you have a bank that will loan on your BRRRR and then refinance through the same bank. Is it worth paying the closing cost twice, with the other fees?? Or is it better to get hardmoney?

If you use hard money to acquire a property you will have to pay closing costs on the initial purchase as well as on on refi. So hardmoney does not save you from paying closing costs twice.  You are pretty much going to have to pay closing costs twice in the brrrr method and you'll need to factor as a cost going into any deals.