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Updated over 4 years ago on . Most recent reply

User Stats

18
Posts
5
Votes
Grayson Loupas
  • Rental Property Investor
  • Tacoma, WA
5
Votes |
18
Posts

Help With 6 Unit Financing BRRRR

Grayson Loupas
  • Rental Property Investor
  • Tacoma, WA
Posted

This is the BRRRR

-Two Triplexes side by side (6 units)

-$700,000 for both

-Completely gutted inside and demoed

-both need $100,000 rehab

-$900,000 all in

The financing part is the trouble... I have about $20,000-$30,000 cash, but about $150,000 in equity in another home. I cant pull a HELOC for a conventional mortgage, but I was thinking about hard money for the 6 month-ish rehab process.. I might find a private money lender for down payment on conventional loan? The rents would be $9000 total for the 6 units, and around $1000 cash flow. One of my first deals so I'd love some help!

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