Help With 6 Unit Financing BRRRR
This is the BRRRR
-Two Triplexes side by side (6 units)
-$700,000 for both
-Completely gutted inside and demoed
-both need $100,000 rehab
-$900,000 all in
The financing part is the trouble... I have about $20,000-$30,000 cash, but about $150,000 in equity in another home. I cant pull a HELOC for a conventional mortgage, but I was thinking about hard money for the 6 month-ish rehab process.. I might find a private money lender for down payment on conventional loan? The rents would be $9000 total for the 6 units, and around $1000 cash flow. One of my first deals so I'd love some help!