Looking to Use the BRRRR Method My First MF Buy.

Looking to Use the BRRRR Method My First MF Buy.

Member since 2020 · 1 post · 0 votes

Hello forum,

I am attempting to start this new journey of real estate investing,and would like to get into buy and hold multi-family rental properties to start.

The BRRRR strategy seems very appropriate, but I am just having trouble with the financing portion.

I can potentially have access to around 25k to use for the purchase and rehab of a property, maybe 30k if needed but that money would come from a hard money lender (probably my dad and grandma).

I personally have around 15k myself I could use right away. My issue is that although the BRRRR Method sounds fantastic, if I don't have a lot of money to start and say I can't get the hard money lent to me from my family, do I still have options?

Would borrowing from my 401(k) be a bad idea? 

Im just not sure how you can attack something like this when you need to have a 25% down payment on top of footing the bills for the repairs. 

What are my options if I can't secure any more capital from hardmoney lenders and all I have have available to use is around 15k?

Any help/info is much appreciated

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  • Specialist · Atlanta, GA · Member since 2014 · 179 posts · 100 votes
    6y

    I may be able to help you. Submit a Contact Us message at REISGA.com with this info.

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