BRRR - start with your own cash or private money?
Hi! I just recently closed on my very first two rental investment properties in Huntsville, AL. Both were turnkey, and both met and slightly exceeded the 1% rule.
I now would like to BRRRR my next property but wanted to get some advice.
I have cash to spend and am currently looking into the sub-$50,000 price point in North Alabama.
Is it better to use your own cash for your first BRRRR? Any advantages to using private financing or seller financing? I’m uncertain because of you may not be able to refi for 12 months and don’t want to be stuck with a high interest rate for that long, but then you tie up your own money too.
Any insight?
Thank you so much!