All Forum Posts by: Tyler Riggs

That's awesome. Thanks again!

Hey,

Thanks for your response! 

Again, please forgive my newby questions.

So you're saying that if I buy in cash, pay for the reno myself, I will still have the option to pull my funds back out after the place is rehabbed and rented? Dependent on if the value is there or not, of course. 

My bank was telling me that I needed already have a mortgage to refinance. 

Hey y'all, 

I'm a first time poster, a complete newbie, and in need of some advice.

I have my eyes set on a 4plex in Florida, and boy is it in rough shape. I have enough capitol to buy the property cash, however that would mean me losing out on the fantastic BRRRR strategy and tying up money that I could put into future investments.

2 questions:

Is there a version of BRRRR where I could self-finance the buying and renovating, then somehow refinance my money back out of it?

Can anyone give me advice on finding the right lender?

I know of HELOC, delayed financing, and FHA (203)k loans but I'm not sure these will maximize my investing potential in the long run and I don't plan on living at the property. Again, the quadplex is highly distressed so I feel like most lenders won't be interested.

Any advice will be greatly appreciated. 

Thank you.