3rd Investment Property
As the description says, I currently have two properties with 2 units each on them. One FHA and one conventional. Renovated both myself and rent them out. House hacking right now, so at the moment I have 3 doors. I am a Realtor and come across deals that easily work. I am also a property manager and not fair market rents in my area well. My challenge now is coming up with the funds for my third property. My strategy is buy and hold. I am looking to do a brrrr for my next one, or a mutlifamily duplex-quad to buy and hold. Not looking to flip. Obviously with bigger pockets being well know now, you hear left and right about hard money lending, and private lenders. How does one make a hard money loan work financially, without the funds for a down payment etc. The skin is in the game, but am far from where I want to be. Is it possible to cash flow while using a hard money lender without brrrr'ing? Since the interest is usually higher and there is a big balloon payment at some point. Just trying to come up with more ideas, because I am at a point where I see and spot deals, but don't have the capital yet to jump on it. Anyone have any advice or experience using other peoples money?