All Forum Posts by: Alice Huang

@Jimmy Lieu

How the BRRRR works is that the borrower will eventually refinance to pay back the HELOC (or Hard Money Lender) after rehab and seasoning. So the HELOC borrowing is only temporary IF he BRRRRs.

If it's just a normal purchase, this method of HELOC would not be preferred.

If you're unfamiliar with BRRRR, I highly recommend listening to the BP podcast on it and David Greene has a book on it too.

@Aaron Signore

Hey Aaron,

Not sure where you're located so can't tailor the advice more. Would you consider BRRRR with HML and then refi after seasoning. This way, it'll buy you some time to work toward those two years as well.

@Jimmy Lieu

Hey Jimmy,

With HELOC you pay for what you need, when you need and refi you take out the whole amount at once.

Hope that makes sense.

@Tim O'Keefe

Hi Tim!

Are you familiar with the BRRRR method?

I'd take out a HELOC, BRRRR another home and refinance the new home to pay off the HELOC after rehab and seasoning.

@Phoenix Prefontaine

Hey Phoenix,

Not a realtor or broker but an investor who use to live in Austin and invests in San Antonio. Always looking to help others and give back.

What do you mean by “partner with”? Let me know more and will see who I should put you in touch with.

Best,

A

@Austin Wise

Hey Austin,

Thank you for your service.

Have you listened to the weekly BP podcasts and read any of the BP publications yet?

@Roy N.

Hello!m Roy!

Fellow Canadian here. I agree with you that having a real estate savvy accountant is very important. I’ve just returned back to Canada after being away for 11 years. Would you have an US real estate investment savvy accountant you could recommend?

If anyone needs recommendation on an US (specifically in Texas) or Australian accountant, let me know.

Thank you.

Best,

Alice

@Francois D.

Hello Francois,

Do you also do conventional loans? Or just private lending?

@Cherif Medawar

Appreciate the insight! My business partner and I are both very direct, no bs type so it’s been great to work together up to now. We’re both very open and considerate of each other’s position.

Just was not expecting the LLC attorney, who also is a real estate broker, and my attorney, who specialises in real estate and commercial law, to have such different advices.

Thank you again Chase for the great insight!  Will study up on Texas law.  Much appreciated it and hope other BP members can benefit as well.

My attorney is a real estate attorney, recommended by my trusted real estate CPA. I've been in contact with her when I was still in Texas. The LLC attorney I am more worried about as I am not sure how my business partner found her and whether or not she specialises in real estate.

A lot for us to consider.  Thank you.  Will go through everything again with my business partner.