First rental property

[Ian Epps]

I'm looking to get my first multi unit rental property. I want to do the BRRR strategy, would I be able to do using a 203k loan or would I need to obtain different funding? Thank you in advance.

[Rod Hanks]

a fha 203k is for owner occupied 1-4 units. No need to refi out of a fha 203k because you will have the money to purchase and the repair money with great terms. The BRRR strategy is used when buying a rental that needs repairs and you use hard money to fund purchase and repairs, then you refi to a conventional mortgage to take out your equity and repeat the process.