All Forum Posts by: Jason Henry
Jason Henry has started 6 posts and replied 15 times.
Post: Newbie BRRRR question
- Posts 15
- Votes 7
I will look into it. Thanks Jake
Post: Newbie BRRRR question
- Posts 15
- Votes 7
Thanks for the advice Kristen!
Post: Newbie BRRRR question
- Posts 15
- Votes 7
Quote from @Kevin Sobilo:
@Jason Henry, yes! It can absolutely work but you need to factor your "cost of money" into your project costs for the rehab phase.
People often use hard money loans to complete BRRRR projects which are expensive loans. So, if their rehab runs long the deal can go south as the loan costs eat up money while you are seeing no income.
One of the reasons hard money loans are common in these situations is that BRRRR renovations are very often starting with properties so distressed that they cannot be bought with conventional mortgages.
Thanks Kevin!
Post: Newbie BRRRR question
- Posts 15
- Votes 7
If You BRRRR a property does it matter if I can only pay cash for the acquisition and not the rehab? Or vice versa, can only pay for rehab and not acquisition? Meaning get some other form of lending for the piece missing. Could it still work?
Hello, My name is Jason Henry and I am a newbie investor. I have 2 rentals in the Montgomery area and building a duplex in Ft. Myers. I want to get started with the BRRRR method.
Look forward to meeting and interacting with you all. Advice is welcome and appreciated!
Thanks