Coming up with money for rehabbing in a BRRR?
If you buy an investment property and plan on using BRRR, and come up with the 20% downpayment on a 100k property, how would you come up with the additional 20-30k for rehab? Out of pocket? I used to think a 203k loan would work but realized that only work on FHA loan backed properties, so if this is a second property that you're not living in, that wouldn't work. Is a partnership absolutely needed here? Or could you get hard money for the rehab, any ideas??
Thanks so much for the responses,
Vince