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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 4 years ago on . Most recent reply

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Kyle Henry
  • Investor
  • Las Vegas
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Financing an owner-occupied rehab (kind of BRRRR) project

Kyle Henry
  • Investor
  • Las Vegas
Posted

Trying to figure out the best way to finance my project. It's essentially an owner-occupied BRRRR project. I plan to purchase a project SFR (or something close to it), rehab it to force equity, live in it for 12-18 months, and refinance when it makes sense.

Do you have any recommendations for how to finance this project? Ideally, I'd like to be in with as little cash out of pocket as possible. Please share your experience and/or perspectives on this as I begin shaping this project.

Thanks in advance.

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    Kevin Sobilo
    • Rental Property Investor
    • Hanover Twp, PA
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    Kevin Sobilo
    • Rental Property Investor
    • Hanover Twp, PA
    Replied

    @Kyle Henry, it depends on what condition your purchase is in.

    If its a functional home, you can buy with an FHA loan or a conventional conforming loan. You can self fund the rehab using credit cards since its a functional home that may be doable.

    If its not a functional home, then you could purchase with a FHA 203K loan that allows you to budget for rehab or use a hard money loan to purchase and rehab and then refinance into a conventional loan.

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