Originally posted by @Cristian Grullon:
@James Gates hello James! Congrats on your success! My name is cristian Grullon and I'm a newbie investor out of central jersey. My wife and I broke into real estate with our first owner occupied duplex.. thing is we have some capital and the BRRRR method has really caught out attention, I've spent weeks and weeks researching and retaining as much knowledge as possible truly is overwhelming! My biggest question is what's the best way to fund the project?! Did you use hard money? Do we do it all cash with the capital that we have, paying for the home and rehab??? Any feed back would be helpful! Thanks!
For funding our first deal, I was forced to use a variety of strategies because I did not have enough liquid capital. First, I got a HELOC on my primary residence. Second, I brought a partner into the deal that had some liquid cash but no real estate knowledge. Third, I used 0% Interest Credit Cards for 18 months (with major sign up bonuses) to fund as much rehab as I could on the cards. You can't pay for everything on the credit cards (usually your contractor is paid in cash), but you can pay for a good amount. Those cards were just paid off with the funds received from the refinance. Rinse and Repeat.
