In Episode 26 of An Investors Journey, we go over Our Most Recent Rental Using BRRRR Step-By-Step!
As a small business, banks are not lining up to lend to us. Maybe they have something against lending money to people that ACTUALLY know how to make money, who knows.
So, in order for us to acquire what we love which is rentals, we must get creative. We went ahead and decided to partner with an investor/friend of ours that we REALLY trust. I can't emphasize "REALLY TRUST", enough. What we're doing is actually going into a partnership with this investor. If at any time in their life they have any type of financial troubles they may try to force the sale of the house. You want to make sure you're not put in a situation that will hurt your business.
Scope of work was small. Tile in the laundry, paint the whole interior, EXTREME deep clean to get all the stuff left behind and the smell out, landscaping, shelves in the laundry, and some other miscellaneous stuff.
The whole house has tile and granite countertops.
That being said, here is how the numbers broke down:
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