Updated about 8 years ago on . Most recent reply
Luke CarlPoster
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BRRRR Finance Questions
Luke CarlPoster
#3 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
Yup if the iceburg for my first BRRRR.
I'd like to put it with a portfolio bank and get into the next one quick. I have one I have a relationship and I think I like them so far.
Questions are for people who are in the BRRRR game on a regular basis.
1. How are you financing after the rehab.
2.Is the goal to have them paid off before the balloon comes due?
3.How many years is that?
4. How are you paying them off?
5.How is the balloon payment amount calculated exactly?
Thanks
Most Popular Reply
2 months cash reserves, not 6.
Yeah, limit is 10, but with the cost of property in CA that is plenty for me, and I won't hit the limit for a while. And if I do, then I'll have enough equity in my early properties to sell one pay off two. This is due to investing in a transitioning neighborhood.