BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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I have equity but no cash to rehab. How can I move forward?
BP Fam! I have a property with over $80K in equity. I would like to rehab the property. Rent it out and refinance. The mortgage balance is $26K (-/+). The rehab + landscaping = $65K (approximately)
Would it be better to seek out private money and pay them back at refi or attempt a cash out refi. This will be my very 1st rental opportunity. I do have a holding LLC and an LLC within. I have tried to get business funding but I'm facing such a run-a-round with that. I have been in the real estate community for some time now and feel as though I should just know what to do and how. But unfortunately, I feel stuck. How do I proceed forward with little to no funds? I hear people all over talking about how this is possible. Can someone please shine some light and direction?
Extremely Grateful!