BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 4 years ago,
BRRRR with Delayed Financing
I remember hearing delayed financing on a podcast a while back. Has anyone successfully completed a BRRRR with delayed financing instead of waiting for the seasoning period of 6 months (for most banks). I remember hearing something along the lines of including both the Purchase price and Rehab Cost in closing to complete the delayed financing.
My silly question is: Is this possible with a fully paid off (cash) property?
I am seeking capital for an investment property. Due to my 1099 employment, the only opportunities I see for myself is a HELOC or Refinancing (cash-out) of my personal property. Afterward, I'll do a BRRRR, and instead of waiting for seasoning, I can possibly do delayed financing.
Any suggestions would be greatly appreciated.