All Forum Posts by: Jordan Leu

@David M. @Thomas Garza @Jason Wray 

Thanks for all chiming into my question. This is why I love the BP community. :) 

Although it would be great to save money on the loan costs, it looks like using my limited capital most likely won't be able to scale after 1-2 deals. I'll have to start looking for different financing options. 

Thanks for the help/advice! 

@David M. - thanks for jumping in! Super helpful as I'm still learning the ropes. Ok, that makes sense. So my understanding is that most banks will give you loans on these types of properties. 

Follow up question, if the property is bad (but not awful) and there is a bank that would approve a loan, should I still go with a private money or hard money loan? I would still plan to rehab the property, but might not require as much rehab costs. 

Hi BP - I'm a newbie investor in real estate and trying to better understand the BRRRR strategy. I watched this video from Bigger Pocket's newbie guide to BRRR investing: https://www.youtube.com/watch?v=FBci62dfqaY&t=796

General questions about BRRRR:

1. Do you have to use a private lender or org to initially borrow money? What happens if I have the capital to purchase the property using cash (for lower priced properties of course), or would this be a bad decision? 

2. Is there a reason why (or why not) go to a bank for the initial loan to purchase the home vs. using a private lender? 

Thanks,
Jordan

Hi Kara - congrats on the flip! Saw your portfolio and looks like you're crushing it.