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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago on . Most recent reply

User Stats

37
Posts
26
Votes
Joshua Sun
  • New to Real Estate
  • Brooklyn, NY
26
Votes |
37
Posts

Advice on how to pay for labor, equpiment and supplies first BRRRR property.

Joshua Sun
  • New to Real Estate
  • Brooklyn, NY
Posted

For labor we were thinking of using our business checking account to wire money or even use Venmo through our business account.

For things such as furnace, flooring, paint, lighting, etc. we were thinking of using our business credit card, and buying all those things ourselves.

We'd keep a copy of all invoices for labor, and receipts for purchases for tax purposes.

Is there any advice or anything we should do differently? Is getting a business AMEX or other credit card with higher annual fees but better points/benefits worth it for a first one? 

Thanks! 

  • Joshua Sun
  • Most Popular Reply

    User Stats

    58
    Posts
    12
    Votes
    Ben Aaron
    • Investor
    • San Francisco
    12
    Votes |
    58
    Posts
    Ben Aaron
    • Investor
    • San Francisco
    Replied

    I pay with credit cards for all rehab work including contractors' fees and materials with 0% APR for 12 months.

    like that I'm increasing my ROI, and for every refi I pay back the card get the points, and going on a free trip thanks to my investment

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