Found loan timing of 2 years -- how to play?
Hi all, I've received an offer for hard money (% to be discussed) but the lender has told me he likes all loans "turned around in two years." There's a lot to talk out still but I'm initially trying to determine if this would even be an option and absent a BRRR, I don't see it. For example:
PP: 330,000
DP Loan 20%: 71,400
Rents: 2,600 total
Expenses: 2,197
Cashflow: 402/month
---
Taking as an example and cash flowing $402 a month, even if I used all cash flow to only pay off DP loan of $71,400, I'd only get to $9,648 in two years. I'm thinking I must be viewing this wrong and what are other ways to pay back a DP loan in 24 months? I imagine a BRRR. Anything else?