All Forum Posts by: Jessa Batylin

Thank you! That’s what I’m finding but thought that maybe someone with more experience had a unicorn lender!

Our primary home is paid off, we are Refi-Ing and going to use the equity to purchase our 1st flip. Lender #1 is offering no closing cost, same interest rate but less on the LTV only 65%. Lender #2 is offering more LTV 80% but $10k+ in closing cost.

I have not been able to find a lender with a true “no closing cost” all I have found is they roll it back in. Has anyone worked with a lender that truly has a Refi no closing cost? 

Hi BP’s- new to investing but not a complete newbie. A little background:

Both my husband and I have been in construction for 20+ years, both licensed GC’s, hubby is a licensed plumber. Both self employed.

Not sure what’s the best way to start investing. Our home we live in is paid in full- in today’s markets it would go for $400+ so there’s equity to use.

Being self employed we have taxes to show 2-years of income. A lender we were talking to said we could use up to $4000 per month borrowing power. So we can go traditional lending.

We want to flip and BRRR
2-part question: 

For the rentals: BRRR- Is it better to take out a loan and finance the 1st rental and use the BRRR method? Or use the equity in our home (also potentially use equity for flip)

For the flip: Is it better to use the equity in our home or a hard money loan to keep cash flow using someone else’s money?

Thank you!!

This is a great question- I am in a similar situation and would love to hear more advice! Best of luck to you