I have been reading about the BURRR method, and really want to get started. I have 100k-115k to get started, but I do not currently have a job. I would prefer to not have to go job hunting, and instead buy a business in the industry that I have been working in for the last 16 years (air conditioning), and use that to pay my bills.
So my question is, can I apply the BURRR method to buying a business? Can I pull the value out of the company to use for investing in property?
Not in the same way because businesses aren't hard assets that a bank could foreclose on so they typically offer shorter terms and higher interest rates think 5-7 years instead of 30.
@Caleb Ormonde You could always selloff a portion of your business to silent partners.
Thank you for the feedback! So if the business purchase included property (a commercial building), would that portion be Refi-able?
@Caleb Ormonde kind of, because most businesses would have commercial property it would probably be a commercial loan which again is going to have a shorter term.