Getting back into the game: BRRRR/Refi question

[Alfred Koenig III]

Hi everyone, I am Freddy Koenig. I am a recent Pro Member on BP and have probably listened to about 100 podcasts now in the past 2 weeks which have been a great listen. I also just recently purchased David's BRRRR ebook which has been enlightening to say the least. Wish I had read this book 4 years ago when I first got into real estate.

I am looking for some advice here.

Currently I have 2 SFH properties in the San Antonio, Tx market:

Property 1. Conventional loan, 10 year term, 4.625%; $30k invested; ~$75k equity

Property 2. Used hard money to purchase then refinanced w conventional loan, 30 year term,5.25%; $15k invested, $70k equity

I wished I would have read David's book prior to purchase where I had enough cash to fund the entire project, BRRRR it, and pull out 90-100% of my investment and repeat to do deal #2 and so on and so on.

Here is my question, I have the cash now to pay off property number 1 and then could cash refi to pay off property 2 which is option A. I also have a couple other options.

Option B: I also have ~$200k equity in my primary residence; so can HELOC and then use those funds to pay off properties 1 and 2 to continue to BRRRR.

Option C: I have a private money partner willing to loan money to me; my challenge there is I don’t know how to structure the partnership deal. Was thinking either an equity stake and/or cash flow share; not too sure to be honest with you.

or Option D: Sell both properties and then use the cash from those properties to start over the BRRRR process from new property 1 and so on and so on

My goal for the next 2-3 years is to purchase 3-5 single family/multifamily homes (1-4 units) per year before graduating to larger multi units. I am hooked up with a wholesaler as well as with a few agents and want to start making moves; I just want to make sure my initial step back into real estate is the right one.

Looking forward to any and all feedback.

Best regards

Freddy