How to create a BRRRR machine?

[Bobbie Dancy]

Wanted to know how to create a BRRRR machine. The recommended amount of money. I just start back working a 9-5 to position to have income and support for mortgages. My idea is to move from a 9-5 to have hard money lenders in my area of Cleveland, Ohio. Right now I have around $20,000 I want to build it up to build the machine to BRRRR and get my 1st mortgage. I'm a first time home buyer and can take advantage of it, however in this circumstances I want to build a machine. Can someone inform me of the steps or make suggestions

one what I can and should do

[Jay Hinrichs]

need to make sure your ARV for the refi will allow

1. purchase and full rehab costs

2. cost of HML during the term

3. cost of refi loan

4. closing costs and title insurance on twice on the same property.

And all of this to come in at 75% ARV or less. apprasials can many times not be what you think they are and you end up leaving money in the deal.