All Forum Posts by: Ulises Martinez

Coucou everyone :) 

I am doing my first BRRR and I am scare.

I selected Drummondville as my target area and I am going to specialize in medium low income single family homes. 

Because I wanted to start and not being scare, I choose a listed home and negotiate price. I need to say that it was not the best price for a BRRR, but a very good house with a lot of potential.

Long story short. I am going to pay a good portion with my money and I am looking a private lender to pay for renovations. 

Price: 215k

Renovations: 45k

ARV: 310k

I am looking for a private lender. For those who have more experience, what should I be aware or look before making a deal?

In terms of renovations. Can I ask the lender for 20k upfront and 25k at the middle of the project? to lower the interest. 

Thank you! 

Have a wonderful day! 

Hello everyone.

My first post here. It is my first BRRRR in Drummondville Quebec. I got a property for 215k I am looking to get 40k private money for 3 - 4 months for renovations. ARV $310

Because it is my first time with private money,

• what is the normal procedure?
  
• What should I avoid or look closely?

Any additional information will be appreciated!