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Updated almost 3 years ago on . Most recent reply

User Stats

19
Posts
4
Votes
Luke Boff
  • Real Estate Agent
  • Columbus, OH
4
Votes |
19
Posts

best way to fund a deal

Luke Boff
  • Real Estate Agent
  • Columbus, OH
Posted

I have been stuck trying to decide the best way to purchase my first investment property. I really like the idea of BRRRR but funding the deal is what I constantly get stuck up on. I have a decent amount of personal funds from savings as well as a HELOC on my primary residence. Off the top of my head I would like to use a conventional loan but when I tell the lender that I plan to refinance within 6 months or less they tell me that I won't find any lender that will allow me to do that. On the other hand do I use the HELOC and personal funds to purchase a smaller property, renovate it and then refi out. Using my personal funds could tie up a lot of my capital for an extended amount of time. Any and all advice is always appreciated!

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