Updated almost 6 years ago on . Most recent reply
Intro - MF Lender looking to 1-4 unit BRRRR in Philly
Hello everyone! Excited to be a part of Bigger Pockets. Just read David Greene's BRRRR and absolutely loved it!
Currently work in Multifamily Agency Lending, but looking to invest in 1-4 unit properties in the Philadelphia area. Just like the book, I'm looking for physical or personal distressed properties with opportunity to add value and below market prices. The main approach would be buy cash, rehab/reno, rent, then refinance and use the proceeds to repeat the process, leaving equity in the property, and cash-flow coming in. Simply said: BRRRR.
I'm currently looking primarily for reliable general contractors and handymen. Any recommendations greatly appreciated.
I'm still exploring the advantages of buying all cash versus debt financing. Any comments would be appreciated.
Also, happy to help with multifamily debt questions. Lots of experience.