Investor · Houma, LA · Member since 2015 · 7 posts · 3 votes
I have two rentals currently...I have roughly 6 years left on loan. I want to purchase more but wanting advise on how to do so. Should i see about doing a line of credit against houses? Or just try and do bank financing? Whats the secret to aquiring so many rentals without putting all kind of cash down? You see all these investors with 40-50 properties...how do you aquire that? Thanks
We work with quite a few rental investors that buy and rehab the rental property with cash. They then get the property rented out. After the property is rented out they work with a lender that specializes in refinancing their initial cash they put into the property. Then we repeat the process over and over again.
Let me know if you have any other questions. we have helped several investors through this process and can recommend some good contacts and help in anyway we can.
We work with quite a few rental investors that buy and rehab the rental property with cash. They then get the property rented out. After the property is rented out they work with a lender that specializes in refinancing their initial cash they put into the property. Then we repeat the process over and over again.
Let me know if you have any other questions. we have helped several investors through this process and can recommend some good contacts and help in anyway we can.
See originally I was doing that with a home equity line of credit on my personal house. And did exactly that. World refinance them and get me money back. But got to a point where they said my debut to income ratio was getting to high.
@BRANDON CHAMPAGNE, have you figured out the BRRRR strategy? Have you visited our real estate investor group in Baton Rouge? We have other investors who make the drive from your area. A number of us started with our HELOCs & now work with local banks who look at more than our debt ratio. Come meet/mingle with us. @Brandon Johnson would be a good person to hook up with. He's tripled his portfolio since I met him 3 yrs ago.
We're meeting next week. Call me if you want details 225.773.711one