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Updated about 7 years ago on . Most recent reply

User Stats

45
Posts
1
Votes
Bart Sklar
  • Investor
  • Cherry Hill, NJ
1
Votes |
45
Posts

Need Financing for BRRR

Bart Sklar
  • Investor
  • Cherry Hill, NJ
Posted

Hello,

Myself and my 2 sons have been trying the BRRR strategy, but cannot proceed because we cannot get financing for our BRRR business. We own a home in Philadelphia worth about 75k.It is free and clear, no money owed on it. We have excellent tenants paying $800 a month on the first of each month for 2 years now. We need approx. $40-45k to repeat .We are in an LLC and cannot obtain financing to get the BRRR ball rolling. We want buy and hold 1-2 homes every 60-90 days, but nobody will finance us. I have resorted to selling my half of a gas station to raise funding , but I can see that's going to take a while. If you know how we may obtain our initial refi to gets thing moving, please let me know. We really want to make it work ,but its tough. Everyone we spoke to has minimums of 75K and up. We are looking for a long term and steady relationship.

Thanks in Advance!

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