Hello everyone - hope I'm in the right place.
Looking for guidance on approaching a mixed-use investment property in my area.
My background: I purchased 2 duplexes (I'm house hacking one of them) at the beginning of the year under my own name. They have been going generally well. Next steps for me are (1) trying my hand at BRRR investing with other people's money and (2) have a goal of owning mixed-use. I learned a lesson of tying my money up in my existing properties which is motivating me to explore BRRR and learning how to use other people's money.
An opportunity came up where I could pursue both. I think it will be a solid investment, from a primarily cash flow perspective, but due to lack of experience with (A) using other people's money, (B) buying mixed-use and (C) rehabbing, I'm not sure about what kind of approach I should take. At the end of the day, I want to own the building and receive income from the rent. It would be a bonus if I can make money from the refinance part (for my first deal). So here are my questions:
1. Since mixed-use is considered commercial, is it better to buy it through a business entity so that I may be able to use business financing?
2. I think this place might go fast, is it okay to initially finance the purchase and then seek rehab funding? This is in contrast to financing the purchase and rehab at the same time. Ideally, I'd like to do a (private lender) cash-buy offer and then seek rehab financing through another source after I have been able to draft a detailed rehab plan.
3. Are there coaching opportunities on this topic? How about the Mixed-Use BRRR process in general
