All Forum Posts by: Dennis Brooks

@Kenny Kuramoto

Thanks Kenny!

We just got done with our first BRRRR! Even though getting caught in a high interest market we still came out on top with $1200 CFlow thanks to welend. I'm struggling with the next move. What strategy should I use? What property should I buy? Should I wait? I have a heloc of 500k I'm a licensed GC and looking for advice from this awesome group! Thanks in advance!

Thank you so much Rob! Look forward looking into this loan!  

Awesome! Thank you so much Jonathan for your insight I had no idea about that loan! 

@Andrew Postell thank you so much for taking the time to reply and help me out! You are what makes these forums fantastic! My wife and I are grateful for the insight on the investing and lending process!

My wife and I did our first BRRR! Bought renovated and rented a 2 family in 12weeks Long Beach ny .Created $230k of equity minus the $70k for renovations that the renters are paying and still hoping to pull a $1000- $1200 cashflow. We are very excited! Can't wait to get our money back and do it again! That's where the problem comes in. During Covid we took a 500k HELOC out of our primary. Used a 150k of our own cash to make the deal happen. We put it in an LLC to protect ourselves which was recommended by our lawyer but the banks don't want to lend to us per a Fannie/Freddie rule about LLCs. Interested to hear similar experiences! How do your get your money back and still protect your self? appreciate any advice! THANK YOU!

@Nick Rutkowski

Hey Nick, thanks for the feedback where upstate?

@Syed H.

Ok thank you Syed for your info!