Working on the B in BRRRR
I currently have two properties - 1 SFH w/ conventional loan and 1 duplex w/ FHA loan. Both were originally acquired as personal/owner occupant properties but are now being used as short-term rentals. Original goal for the STR was primarily cash flow.
Now, I'm just starting to get more serious about BRRRR and want to buy a third property soon. Being a relative newbie, I'm still trying to figure out the best option for financing. I have good credit and income and along with my partner we will have a 20% downpayment. Do I apply for a regular conventional mortgage? Is it based on my personal credit and debt to income? If I keep buying properties won't this eventually get "tapped out"? Are there other options we should be pursuing? Hopefully these questions aren't too basic... I guess I'm looking for advice for how to approach financing my first real BRRRR. Thanks!!