Help Getting Started with Brrr

[Kevonna Ahmad]

I have one investment property that I got through a VA loan, but now I am looking to switch to the Brrr strategy. My problem is I am stuck at the "Buy" step. What generally comes first? Finding the deal or finding the hard money lender? And if the deal is first, how do you lock it up before an all-cash buyer comes in and nabs it up while you're looking for financing?

[Aaron W.]

@Kevonna Ahmad This is a question that is highly debated amongst investors. If you find a deal but no financing, then how do you purchase it; however, many lenders (hard/private/conventional) will not agree to lend to you unless you have a deal. 

I would work on both angles. Try to secure soft commits while you are looking for deals. Show a sample deal of what you invest in or have invested in and include information on why they should invest in you. 

In this current market cycle, you have to be aggressive and be ready to move quickly when you find a good deal.

Best of luck!