New Investor Financing

[Andrew Kraft]

Hi, My wife and I are planning on buying our first investment property this year. We would like to buy 1 this year and 2 next year if we can. Our plan is to BRRRR the property but cash is going to be the one element holding us back. We are wondering what the best way to approach financing is if cash is not an option?

- Wait another year and save as much as we can.

-Refinance our existing home and pull cash out to finance the purchase.  We purchased in 2011 and gutted and remodeled much our house.  Most of the work was done by me.  We paid $180,000 (owe $150,000) and current value would be around $400,000).

Any Thoughts or advice for a new investor is appreciated.  

Thanks, 

Andrew & Andrea