All Forum Posts by: Jorge Esteves
Jorge Esteves has started 1 posts and replied 2 times.
Post: Financing for BRRR in order to get 2nd rental
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- bridgeport ct
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@Jaysen Medhurst Thanks for the info, i guess when working with hml i will need to make sure i an aware of all fees and need to look into how to use a heloc as i am seeing tat as a popular tool if one has equity in other properties.
Post: Financing for BRRR in order to get 2nd rental
- New to Real Estate
- bridgeport ct
- Posts 2
- Votes 0
Good morning All!
New to BP community, I have scrolled the forums long enough to not have an account set up so here I am.
I wanted to ask a question about what i plan on being my next move. After buying my first rental and finally putting it up for rent I am excited to get started on finding property #2, I have drawn my interest towards the BRRRR strategy as i find it can be very successful especially if someone can DIY with renovations and can make the #s make sense. My thing is that from what my broker says investment properties are now only able to be bought with 20% down. Is this what everyone else has seen as well since COVID started? I put 20% down on property #1. At 20% down i wont be able to get started on another property for at least another year, wanted to see if you all suggest to go that route for #2 and get conventional 30, BRRRR and then continue buying or if i should do more research on HML? From what i have seen so far HML is tough to refi out of but i do not have enough experience to know that for sure so thought i would bring my ideas and questions here.