BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago,
HELP. BEST WAY TO GO ABOUT FINANCING REHAB COSTS
Recently purchased a fixer upper, hoping to do a BRRRR on it. I would like to buy another property this year also. I have 60k in cash at the moment, rehab costs to property would run about 50k . Is it better to borrow that from the bank? if so, should I pull a heloc (on another property with 2.5% interest on the mortgage and 120 k in equity) or a regular loan? What loans offer the best terms? Im hoping to cash out refinance in 6 months and pay off the loan that way. I want to stay as liquid as possible for the time being