When I use the BRRRR System in the refinance part of the property , that money is used to pay the initial loan of the purchase property .

The house needs to be in the condition it was when you did the initial viewing (or better). 

I'm initially interested in investing locally so that I can keep an eye on the properties until I become more comfortable with this new venture.Looking forward to meeting everyone and if you're a local realtor, lender, contractor, or property manager, I'd love to start a dialogue with you!

Hi BP Family, I understand that many newbies and even some experienced investors are not really sure how to start working with a lender, have a clear understanding of the multiple ways you can finance your deals, or know how to obtain "funding" partnerships.After speaking to many investors we are seeing this pattern of investors being unsure of how to even start initially approaching a lender.To start, I think it would be great for lenders to get the answers to this information.

I initially thought I would start off by house hacking a multi-family house in NJ, but I’m not sure that will work out right now due to the crazy market and my income.

I thought as long as the loan goes through without issue I don't really care who the lending advisor is so I didn't give it much thought.The home lending advisor that I end up working with is fairly responsive and we get through all of the initial loan process fairly quickly.

My (potentially dumb) question is, is it possible to use the BRRRR method if you buy the property initially with a conventional loan?

They initially said yes, but later backed out when we asked them to sign the paperwork.

I was reading today about this initiative from the city government in #Indianapolis.

I'm just at a loss because initially I was heavily advised against forming an LLC because of the lending concerns, and now I'm being advised to form one to separate the finances.I appreciate any advice and helpful tips.