All Forum Posts by: Brian Raike

I am considering a BRRRR deal in an area I know decently well and already own a property. Interestingly, the property already has tenants in place. I've seen pictures and it seems like they live sloppily, but they pay rent. Their rent covers the holding costs during the rehab period. I am inclined to keep the tenants in place during the external rehab. Then I would remove one tenant at a time for the internal rehab. This should keep holding costs at a minimum. Has anyone ran into this situation? Does anyone have a cautionary tale from experience? Am I prudently saving money or creating a problem? THANK YOU IN ADVANCE!!!

Guifré,

A very late thank you! Ended up getting a better deal with better numbers.

I apologize for the delay and I appreciate you looking at my numbers!

Brian

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@ Matt K. Thanks for the feedback

Jennifer B. Thank you for your response!

I'm new and I'm sure this is ask/answered, but I want to see if I'm looking at this correctly. Question- is it possible to use a hard money loan for a rehab, then use the equity built up in the rehab to satisfy the loan-to-value requirements set forth by traditional lenders? I currently have enough capital saved to pay 20% down, but if the scenario above is possible, I could get away with only putting 5-7% down and saving the rest for another deal. Thank you, Brian