Investor · Member since 2018 · 75 posts · 15 votes
Hi BP,
I am trying to figure out how I should proceed with purchasing a property, I can get 75K from my home equity but what if the cost of this property is 125K, what is the best strategy to purchase this property without exhausting all of my resources $$$, I have a line of credit of 15K and A+ credit. I will be using the BRRRR strategy and wanted to see if there were any other strategies I could use to purchase this property.
If you're planning on BRRRR'ing the property you can always use hard money, then refinance. Just make sure you're being conservative with your numbers. Check out Kiavi. They are one of the most common hard money lenders.
If you're planning on BRRRR'ing the property you can always use hard money, then refinance. Just make sure you're being conservative with your numbers. Check out Kiavi. They are one of the most common hard money lenders.
Best of luck!
Hi Kyle,
So if I used a hard money lender, when should I refinance and why?
If you're planning on BRRRR'ing the property you can always use hard money, then refinance. Just make sure you're being conservative with your numbers. Check out Kiavi. They are one of the most common hard money lenders.
Best of luck!
Hi Kyle,
So if I used a hard money lender, when should I refinance and why?
It sounds like you need to dig more into the BRRRR method. You refinance once you'd grown equity or forced it, to then get your money back out. Check out this video.