BRRRR Financing Question
Quick question: A year ago, I bought 3 SF rentals for around $125K each (in Kansas City). Each property is on a 15 year note with a traditional loan and they cash flow around $200/mo for each unit.
I was planning to pull my equity out and repeat the process, but my lender said that I cannot extract the equity until the properties have "seasoned". I figured the BRRRR snowball could gain traction faster but I think I financed them incorrectly.
I'm currently planning to buy a small condo and I need to do the BRRRR better this time so I can repeat the process faster. Advice on how to finance a BRRRR property better on the next one would be most appreciated.