I am fairly new to the BRRRR strategy and currently reading the BRRRR book. I love how fast multiple BRRRRs can potentially grow your portfolio along with gaining REI experience. When buying a BRRRR, what is the safest way to finance this and are there creative ways to do this. I understand the common way of having a private or hard money lender finance it and pay them back after the refinance. Is this smart or would it be more recommended to buy and rehab with all cash.
Also, is it possible to get a loan for just thr rehab? For example if I bought a property for $50,000 cash, and the rehab is estimated at $30,000, is it possible for a lender or bank to loan on just the $30,000 for rehab? Thanks in advance!
loan for just the rehab (from bank) is probably going to have a higher interest rate