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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago,

User Stats

6
Posts
15
Votes
Adam Tamer
  • New to Real Estate
  • Chicago, IL
15
Votes |
6
Posts

First time investor looking for advice!

Adam Tamer
  • New to Real Estate
  • Chicago, IL
Posted

Hey everyone, 
I'm looking to make my first investment into real estate this year and love the BRRRR strategy. To give a little background, I have about 6 months of historical W-2 income (just graduated from college in December) with little money saved up, and my partner has a nest egg of cash on hand but no steady historical income. That being said, neither of us can qualify for a loan from a traditional lender.

 Do private lenders generally look at the investment opportunity more so than individual financial history? Also, when refinancing the home after the rehab and lease-up, will conventional lenders still refinance the property even though we would not qualify for a home purchase initially? If so, are there any stipulations that come with being in the situation that I described above?

Lastly, I would greatly appreciate any advice/stories from someone who has done used the BRRRR method to start out their real estate journey!

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