Get your finances in order.

I have a question on the FINANCING of the first BRRRR purchase. can someone explain what is the best way to finance the first transaction - is it a traditional loan with 20% down or should it be all cash / etc?

Wholesalers always like experienced investor but people just starting also need deals and they simply just don’t know to go to wholesalers if you can build their trust of wholesalers it can go a long way, then introduce them to hard money as a way to finance the rest of the deal- they don’t need income verification with hard money good luck :)

As for investment financing, you can use private/hard money funding that would typically finance 10-20% of the purchase price and most/all of you rehab.As for your first question, the amount of leverage should be in accordance to your risk tolerance. 

By the way, if he purchased it in Sept and he's just now seeking additional financing, you should question this a little.

I'd first look at local credit unions and then expand outwards from there and know you can sometimes get financing outside of the state.Another option is to work with a private money lender.

Hi BP Community,Does anyone know how a large scale condo conversion project finds financing for the end buyer?

This is a Conventional Loan, and it's where the lender will finance the land and construction all in one, however you are avoiding HML/PML's.

I could definitely use more confidence and knowledge when it comes to the financing side!

How did you finance this deal?