How to raise financing for expansion: 5+ properties?
Hello folks
How can a private investor use available equity in currently owned (and financed) properties to raise money to fund consequent purchases? Note: investor already has 5+ properties.
Seeking to expand without having to add "new money" to invest in the business, want to have existing properties to fully pay for expansion.
Preliminary homework performed and in both instances property needs to be bought for cash:
* With delayed financing, investor can recoup funds spent on purchasing but not on repair. The downside is that this approach will require "new money" to be added to find expansion.
* Having identified a local portfolio lender, investor (LLC) will be able to refi up to 70% LTV but must hold property for a minimum of 2 yrs. The downside is that 2 yrs is a lot of time.
Any other ideas?