Updated over 1 year ago on . Most recent reply
BRRRR Financing Needed
Hello BiggerPockets friends!
I'm looking into finance my first BRRRR. I have 1 traditional BRRRR and 2 unintentional BRRRRs under my belt that I financed with my own funds. I'm exploring an opportunity to purchase a property in close proximity to two duplexes that I own. I have a team together, and we just completed the rehab of 3/4 units in those two duplexes.
Property is a SFH located in an opportunity zone
Purchase price ~$50,000 (to be negotiated)
Rehab $40,000 - $60,000 (have not walked through yet, will have a better estimate after walk through)
ARV $160,000 (I have some good comps in the area)
Rent comps are at $1500/month
I can put 20-25% down. I would prefer interest only payments during the rehab period, if possible. Would love to connect with a lender to better understand my options!
Most Popular Reply
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Flipper/Rehabber
- San Diego, CA
- 606
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#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Flipper/Rehabber
- San Diego, CA
Sounds like a good deal. I'm just up the road in Jacksonville. I have a good hard money lender that I use. I'll send you a DM.
- Jake Baker
- [email protected]
