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Updated about 5 years ago on . Most recent reply

User Stats

38
Posts
6
Votes
Johnnie Bembry
  • Las Vegas, NV
6
Votes |
38
Posts

Seeking Input on my BRRR Plan

Johnnie Bembry
  • Las Vegas, NV
Posted

Hello BiggerPockets Family,

I'm putting together my plan to BRRR a property. Can you look at my plan below and provide input? My biggest question is whether I'm legally allowed to fund the rehab with a business credit card even though the property is under the LLC, yet. Anyway, whether it's good or bad, any input is appreciated!

1) Secure funding for a property (probably my personal funds)

2) Create an LLC and secure business bank account & credit card

3) Secure a property (in my name)

4) Fund rehab with business credit card

5) Find and place a tenant into the newly renovated property

6) Cash-out refinance the property into LLC

7) Repeat 

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