Updated almost 4 years ago on . Most recent reply
Scaling from 3 properties
Hey everyone! My name is Ashlee from Baltimore, MD. I currently have 3 rentals- one SF, one duplex. Im looking to scale but my credit isn’t in the best spot right now and I don’t have much reserve. Im not against the slow process of rebuilding my credit and saving my W2 income for the next one. But I don’t necessarily want to wait 1-2 years before buying my next. Im looking for more info about seller financing vs hard money or any other options. If anyone is interested in partnering, we could also discuss how to scale as a team! Thanks!
Most Popular Reply
Hi Ashlee, congrats on your portfolio and motivation to scale. My two cents is that hard money usually requires a large down payment which would require more capital up from you than you wish to part with. Seller financing could be a good idea in the right circumstances but definitely consult an attorney for anything in that realm. Another option that might be a good route for you is commercial financing. It is less dependent on your personal income and I would recommend using an LLC for that especially if you are working with a partner.
Hope this helps