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All Forum Posts by: Mike Brown

Mike Brown has started 8 posts and replied 11 times.

Personal Finance

Post: Rent ready financing

Mike BrownPosted
  • Rental Property Investor
  • Waynesville, MO
  • Posts 11
  • Votes 1

Just trying to underatand deal analysis of a rent ready property. If I can get a property under contract for, say, 40% of its assessed value, can I get a conventional mortgage for more than the purchase price so I can pull my money out right away? But then which 20% would a down payment be against, the purchase price or the loan amount?

I'm trying to understand the differences in using the BRRRR strategy vs. buying a rent ready property. Genereally, I think I would want to pull my money back out of any property ASAP, right? Thanks!

0 Votes