If I want to do the brrr method and pay all cash to buy. How long do I have to wait to do a cash out refinance and how many times can I do a cash out refinance (assuming different properties) can I do a year?
It also depends on the competition level that you have on a given deal. Most of the time, due to the competition on a home, you must be able to offer a fast closing date. A hard money loan can close in as fast as 48 hours. A Fix n Flip loan can take 2-4 weeks. If your competition is using hard money or cash, you either have to close as fast or pay more. I broker these all the time, I use Intrust Funding on many deals and other hard money on other deals. It depends on the deal, location, deal structure and what unique details of the loan or property as to my decision of where I will broker the loan.
I wouldn't try and coin the term soft money here. That is going to get confusing with Soft Debt. I work in the affordable housing space and we have something called Soft Debt. This is debt usually from The City or The State and it is paid back on a cashflow dependent basis. It usually accrues 1% a year and if there is cashflow left over at the end of the year we will use it to pay down the soft debt. Often times we won't have to pay anything back for 5, 10 even 25 years.
So much fun shooting this w/ Ashley Kehr!! Hope you guys enjoy this new video! 🙏
Great breakdown and visual to help understand the basics.
I learned a few new things regarding Hard and soft. I usually use my own money. good to have in my back pocket for future deals. Thank You.
If you can self fund it def reduces risk (good in this market), Leverage increases profitability.
Great information! Very helpful video
Thank you :)
Awesome. Just put a house under contract with a wholesaler. Did not have financing in place. Less than 30 days to close. Very helpful video!
Another great informative video! Thanks for sharing all your knowledge with us!
More to come!
Really well explained. Thank you 🙏❤️
Thank you!
If I want to do the brrr method and pay all cash to buy. How long do I have to wait to do a cash out refinance and how many times can I do a cash out refinance (assuming different properties) can I do a year?
Your intro is Gold!
Dam this was very informative!!! Thank you for this upload!!!
Thank you!!!
@@ProjectRE You're Welcome :)
great video !
Thanks!
It also depends on the competition level that you have on a given deal. Most of the time, due to the competition on a home, you must be able to offer a fast closing date. A hard money loan can close in as fast as 48 hours. A Fix n Flip loan can take 2-4 weeks. If your competition is using hard money or cash, you either have to close as fast or pay more. I broker these all the time, I use Intrust Funding on many deals and other hard money on other deals. It depends on the deal, location, deal structure and what unique details of the loan or property as to my decision of where I will broker the loan.
100 agree!!!!
What do you do if you don't have any experience? How do you still get hard money funding?
Capital. Lenders may ask for a higher down payment x you could also bring in a partner to assist.
Im a bit of a rookie, can someone explain further why its advantageous to waive the finance contingency in his example at the end?
Great video btw, i didn't know soft money was a term!
Makes your offer strong to the seller!
Thank you for providing this helpful information
Thanks lu!!!!
I wouldn't try and coin the term soft money here. That is going to get confusing with Soft Debt. I work in the affordable housing space and we have something called Soft Debt. This is debt usually from The City or The State and it is paid back on a cashflow dependent basis. It usually accrues 1% a year and if there is cashflow left over at the end of the year we will use it to pay down the soft debt. Often times we won't have to pay anything back for 5, 10 even 25 years.
informative-excellent!
Thanks!
Fantastic interviewing by Ashley, fantastic insights by James.
Thanks 🙏🏻
I use loud money.
Whatever gets a deal done!
fix audio levels please
Cool
BX STAND UP!!!
😎
Good information, poor audio quality. Please adjust
Fixed!
🔥🔥🔥
Thanks!
Guys it’s all money at the end of the day. Just use it.
💯
Please invest in some better microphones =)
Fixed :)
Came to comments to make sure it wasn't just me. Thank you.
Soft money just sounds like a normal bank loan.
💯 banks hiding in the hard money space 👀
Smegma? I see what you did there…
😂 we run into it all!
What makes money hard? (When it goes to the strip club) skaboosh
😂
And drug money.
That might cause other types of problems…