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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