Hey guys,
Thanks for the posts. my wife and I are brand new to Real Estate. We just bought our first personal house and decided it would be good to form an LLC in order to begin our investing journey.
We formed an LLC and do not have the best credit nor savings. Knowing we are not positioned the best to begin real estate investing, we plan to use the BRRRR strategy.
When we find a good deal for us, we plan to use hard money for the Loan to Cost and then a private money lender to cover the upfront costs and then structure the deal so the private money lender comes out on top through payments from the cash flowing property. Is this something anybody has seen done? The reason I ask is because I had heard about hard money but thought I wouldn't be able to front the cash for the projects and + the loan costs + property holding costs, which is where I would get a private money lender to fill in the gaps and get paid on the back end. Does this make sense to you seasoned BRRRRs who maybe started out in a similar situation?
With Aloha,
Matthew C.
