BRRRR Financing in Baton Rouge, La
I am new to BP and am currently trying to network in the Baton Rouge area. My partner and I have purchased our first buy and hold property in North BR using a sellers finance. Our plan of action is to BRRRR the property and buy more rentals in the area and around LSU and surrounding areas. We are currently in the rehab phase and are looking to connect with lenders for the refi. So far, we have put all in cash and are not familiar with what to realistically expect for the refinance. I have done some research, read, and listened to BP on the refinance part of BRRRR but I know each deal is unique and what worked for one won't always work for the other. I want to be as prepared as possible for the best transition; so that, we can get as much money back to invest in the other properties we have our eyes on. So far, we bought the property for 20,000 with 6,000 left on sellers finance, rehab budget of 20,000, turning a 2B/1 Ba SFR into a 3B/1Ba with house comps for similar properties in the area selling for 100K. We have fair credit and both have full time careers. We really are passionate about REI and would greatly appreciate your expertise!!
Whitney Alford
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