How to manage BRRRR financing the right way
Hey BP!
So let me get this straight. The HMLs I've been talking to on the phone offer me loans for a 12 month period. I plan to do a lot of the rehab on my BRRRR, so let's say it takes me 6 months to get it rehabbed and rented and 6 months of seasoning period with the tenant living there. I wouldn't be able to take 6 months on the rehab right? If I took 4 or 5 that seems a little sketchy still. How would you guys recommend I manage the financing? Go for an 18 month term with the HML? Find a way to get it refinanced faster? Any advice would be great. Thanks!