- Votes |
I am just starting out. I have been researching for about a year now and my strategy (at a very high level) is to BRRR my way to financial freedom. I am not excluding other strategies but I intend to focus most of my time and energy on BRRRs. That said, I am concerned I will not be able to carry enough loans to acquire enough doors. E.g Let's say I aim to acquire 10 SFH per year, my first 2 years. I.e, 20 loans in total. Is that even possible? If so, what type of lender am I looking for?
My understanding is that a common bank will struggle to meet these needs. Rather, a portfolio lender might be a better option. However, I have heard that portfolio lenders can make it difficult to sell the property, should you decide to do so. Then there is private lending..
My question is this: In light of this high level strategy and the need for many many loans, what is the typical (if there is such a thing) route for lending?
I do understand that acquiring MFHs would alleviate this issue to a degree, however, I am asking in principle. How would this be achieved?