Getting Financed on Multiple Properties

2 Replies

I'm hearing that a lot of people are using the BRRR process, I'm new to this process and I'm wondering how your getting financed for so many properties? I have great credit and 15,000 to get started, what's the best approach?

@Robert Pilson getting financing from banks is not that challenging. You can generally go up to 10 loans on residential deals up to 4 units. Above 4 units you enter commercial financing, which I have personally found to be almost easier than residential. The whole concept revolves around buying properties for less than their intrinsic value. This allows you to sell them for a profit or refinance them to pull equity out to re-invest in other deals. The concept has been around long before bigger pockets, and is called value add investing. 

@Robert Pilson you get financed for many the same way you get financed for one, you're low risk for the bank. Make sure you have good credit and reserves, the property has plenty of equity and it cash flows well, and banks will hand you money all day long.