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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 3 years ago on . Most recent reply

James Fischer's profile image
James Fischer's profile image
James Fischer
  • from DFW
  • Member since Jun 6, 2019

User Stats

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James Fischer's profile image
James Fischer's profile image
James Fischer
  • from DFW
  • Member since Jun 6, 2019
James Fischer
  • DFW
3
Votes |
4
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

LLC and Business Line of Credit

James Fischer
  • DFW
Posted

I'm wanting to form an LLC to begin purchasing SFH's to then BRRRR. My plan is to show my W2 earnings to obtain a line of credit from a bank to then purchase properties with cash then move through the BRRRR process to eventually refinance.

Does this plan make sense or seem reasonable?

Does the bank I obtain an LOC from have to be in the same geographic area as where I plan to invest -or- can I obtain a LOC from a bank near me although I plan to invest out of state?

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