leveraging funds to buy rentals

3 Replies

I have wholesaled enough funds in columbus ohio, now I want  to get into the rental part of real estate. whats the best way ? I have an fha loan up to $150k owner occupied 3.5% down, my goal is to own a duplex up to a 4unit. I have wholesaled to alot of buyers who will buy the home cash from me  fix the home up rent it out, get the home appraised and then take out a home equity line out on the home. would you consider just getting a mortgage loan from the bank to purchase the house? what creative ways are you using to build your rental portfolio?

There's a hundred options. In my case I used my money to source private capital and then used it to build a portfolio I could then BRRR. FHA can be good however they want to see owner occupants. Although I'm not sure if that covers assumables.

There are small banks also out there that will do commercial in house and are still somewhat flexible on terms.

Originally posted by @Brandon Schlichter :

There's a hundred options. In my case I used my money to source private capital and then used it to build a portfolio I could then BRRR. FHA can be good however they want to see owner occupants. Although I'm not sure if that covers assumables.

There are small banks also out there that will do commercial in house and are still somewhat flexible on terms.

 what banks are those? explain brrrr I have investors that do that method but I do not know how they are doing it.

you'll have to start calling around and ask for banks that don't sell their loans. That means they're not trying to conform to specific loan standards.

There's a few dozen articles and several Web casts on bigger pockets about the BRRR deal.

https://www.biggerpockets.com/renewsblog/2015/04/20/how-to-100000-dollars-year-real-estate/

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