BRRRR Types of ways to get started

9 Replies

Reaching out to anyone in the Bigger Pockets community that would love to help a brand new investor pick his feet up off the ground with advice!! Currently reading David Greene BRRRR book but still finding myself troubled on how to get started with the B in BRRRR

@Sean Jones it's a good question. Most people use conventional financing - i.e., a mortgage - to buy their primary residence, and so a "cash" purchase of an investment property seems a lot different. There are actually different ways to buy with "cash"... the best, and the best way to BRRRR, is having 100% your own, literally sitting in your own checking account. When you close, there's no bank, no points, no appraisal - you just close with your own cash. But private money and hard money are cash-like - they're just more expensive, because they're actually loans, and you have to pay interest on them.  They're just potentially faster than conventional financing.  Make sense?

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