Got my first STR property, need guidance for next one

[Alain Martinez]

Hello BiggerPockets community, 

I bought my first STR property in January, rehabbed it, and now it's already in the market and generating income. I'm ready for the next one but I lack knowledge for the whole BRRR strategy. I was hoping you all could give me some guidance to get some money out of this property to use for the next one. Here are the facts:

I have a DSCR Loan for that STR property

I currently have an 8.925 % rate

I owe about $172.5K and the property is probably worth now $380K

STR was purchased in January

Given these facts, and with interest rates being so high, where and how can I get some money to proceed with the BRRR?

Also my primary residence has about 400K of equity.  

Your help is greatly appreciated.  

[John Underwood]

Let the first one season for 12 months to make sure you can actually make money.

I heard of a guy that bought 2 pretty quick and then sold 2 even quicker because he was losing money at todays inflated RE prices and higher mortgages.

Slow and steady wins the race.