Creative Real Estate Financing

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Cole Shawd
  • Rental Property Investor
  • Sioux Falls, SD (sioux falls)
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What would you do? Financing hurdle after 2 properties

Cole Shawd
  • Rental Property Investor
  • Sioux Falls, SD (sioux falls)
Posted Sep 22 2019, 07:46

Looking for advice. I just completed my second rehab rental on a single family home. Both are now rented and currently have $35k equity in each one ($70k total) after the rehabs. Unless I throw a flip in here and there continuing to purchase properties with conventional 20% money down can be difficult as we all know. For now I'm looking to avoid private money and looking to BRRRR one of them to get my third. I've been stuck though in my mind not wanting to leverage other properties on top of one another so if and when the market turns I still have solid equity in each property. It is more of not doing it before and new to that process so the fear from that holds me back. To provide more numbers my 3rd property would be a purchase around $70k-80k and $20k rehab max for around $90,000-$100,000 all in property. Appreciate any suggestions and support. Thank you

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