BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 4 years ago,
Newbie trying to break free
I am a 26 year old software engineer in Miami, Florida, looking to make his first deal in real estate happen. I love the BRRRR idea, but cant seem to make the jump. I've been looking for deals for about 2 months now. I am scared that I am not doing the numbers right or that I wont be able to refinance correctly (or how to refinance at all) given that I get a hard money lend . I also don't know if a hard money lend would be the way to go since most lenders wont lend me a conventional for a beat up property.
I have 2 goals for 2021. To get my real estate agent license (already on it) and to get my first rental property going. I am struggling so hard mentally on that second one. I feel like I have found deals but freeze up and end up not doing anything about it... any suggestions for a rookie learning the ropes of the industry ?