First deal, lost in financing
Bigger Pockets writing here to seek help and advice on my first deal.
I have officially came under contract for my first deal, I plan on using the BRRRR strategy.
I have the property under 105,000 and compared the ARV of many other comps and came at the minimum of 170,000, so got 65,000 of equity in the bank. I do have the money for a down payment but seeking financing for the property and potentially the rehab cost which I've calculated at being around $35,000 rounding to 37,500 for misc. with 12,500 of this being Cap. Ex.
What options do I have here?
For a 24 yr ind. I don't have the taxes required, so I would co sign the property with a family member if needed.
Seeking financing with quick refinance options (non-3 month)
I've also considered on doing an equity line of credit after refinancing, is this something that's possible to do with the BRRRR strategy?
In advance thanks for the input.