Financing a deal

4 Replies

I am trying to find a way to finance a deal without using any of my savings.  I have about $70k (my emergency fund) in savings.  I also have about $200k in equity in 2 properties on rental in Virginia and one in Louisiana.  Any suggestion on how to finance this based on the above?  I also have an IR with a significant amount of money in it.

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James,

I would consider obtaining a HELOC using the equity in those 2 properties.

I currently use the same strategy and combine that with the BRRRR strategy that @Nicole Graves suggested.

I basically Buy, Renovate, Rent, Refinance, Repeat and it works well using the LOC for purchase and Rehab then when you refinance it pays off the LOC freeing up that money again. Essentially makes each deal a no money down deal once you refinance your LOC money back out.

Cheers, Good Luck