BRRRR - Buy, Rehab, Rent, Refinance, Repeat

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Kevin Dombrowski
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Can you BRRRR a family members house?

Kevin Dombrowski
Posted Jul 25 2022, 10:29

Hey guys, fairly new investor here. I only have 1 property so far. So, If a family member has say 40k left on a home loan of 150k and is willing to sell it to me for 125k, is it possible to get a private or hard money lender to set this deal up? I would want to buy it for 125 and then rehab it a bit and cash out refi and keep the family member living there. Do you guys think it would be an issue with the lender that I would be buying it under market price? I haven't done a BRRRR yet and I'm not sure if this specific situation would work. Any insight would be greatly appreciated! Thanks!

Hartford, Connecticut

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