All Forum Posts by: Account Closed

I am fairly new to the BRRRR strategy and currently reading the BRRRR book. I love how fast multiple BRRRRs can potentially grow your portfolio along with gaining REI experience. When buying a BRRRR, what is the safest way to finance this and are there creative ways to do this. I understand the common way of having a private or hard money lender finance it and pay them back after the refinance. Is this smart or would it be more recommended to buy and rehab with all cash.

Also, is it possible to get a loan for just thr rehab? For example if I bought a property for $50,000 cash, and the rehab is estimated at $30,000, is it possible for a lender or bank to loan on just the $30,000 for rehab? Thanks in advance!

@Cody Richard

Interested! Also new to real estate. Would love to be in a group where we could hold each other accountable and share thoughts!!

@Trent Stone

Thank you, that helps a lot!!

@Trent Stone

How important is it to have cash reserves to lenders? And how much or what percentage do they like to see,

I am aware that to get a loan approved the lender generally likes to see 2 years of employment with the same employer, is this true?

I graduate nursing school soon and will get a job as an RN. I have worked as a CNA for about a year and a half. Before that, I did not have a job due to playing basketball in college.

I have a few thousand in cash reserves, a good credit score, and about $10,000 in student loan debt (no other debt). I currently live with my parents but am looking to house hack a duplex using a FHA loan.

I would love to hear feedback from anyone with experience or in a similar situation!

What is the most interesting thing you have learned while doing REI? This could be tax related, market related, tips, anything.. I am starting out and love hearing/learning about cool things that has helped investors or changed the way they think about or do things

Thanks in advance!