BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 5 years ago,
How to go from private money lender to mortgage
Say I purchase a house for $100,000 through a private money lender. They also contribute $25,000 towards repairs. ARV is $165,000. Once the home is ready to go on the rental market, how would I then put that home down on my own conventional mortgage with no money down? Is it common practice in this situation to get a mortgage for $125,000, to repay the PML? Then that would keep the mortgage at around $750/mo leaving more room between rental price and mortgage.
What am I missing?
What are other ways should I consider looking at this?