Updated about 2 years ago on . Most recent reply
Brrrr financing options
My partner and I are doing our first brrrr. Here’s the numbers
PP 150,000
Hard money loan-135k
Repairs-15k
Signed lease of $1650 per month.
ARV 220k
My hard money lender offers two loans that keep the property in the Llc.
Option 1 80% new appraised value 30 year fixed
5% apr
Option 2 10/1 arm. 5% Interest only for 10 years and then libor + 5.
I’m torn between cash flow and paying down the asset.
Curious to see what you guys think.