BRRRR financing for a beginner
BP family, I need some guidance.
I want to begin BRRRR investing, but lack capital. Big plot twist right? Lol
So my question is should I save up the certain amount of cash to be able to buy the house and afford the remodel or would it be wise to potentially find a private lender to begin now?
My experience is low, but have completed a live in flip the profited 25k, and sold for more than asking. Using that as a down payment, I purchased a duplex that I am adding value to in a few areas. But!
I have remodel experience in my line of work too. As a manager of a hardware big box home improvement store for 10+ years now, I oversaw a $3 million store remodel, while managing to run the store team, General contractor, fixturing contractor, electrician and meeting deadlines throughout all 4 months.
Any idea if that’s enough for a lender to work with? I know that both are options, but have you done this? Feedback?