Updated over 1 year ago on . Most recent reply
New to BiggerPockets: Seeking Tips on Private Lending - Finding Multifamily Property
Hi BiggerPockets community!
I’m Frank, based in Northern NJ, where I invest in multifamily properties and short-term rentals. My real estate journey began in 2010 with a three-family property that I lived in, renovated, and eventually turned into a profitable rental before selling it via a 1031 exchange to purchase a short-term rental.
My current goal is to acquire my first multifamily property using private lending by Q1 2025 and grow my portfolio using the BRRR strategy.
A question for the community: What’s been your most effective way to connect with private lenders for small multifamily properties?
Looking forward to learning and contributing!
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#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Hi Frank, sounds like you’ve built a solid foundation and have exciting plans ahead -
If you're planning to scale, you might also want to explore hard money loans or DSCR loans alongside private lending. They can be great tools for funding acquisitions and supporting the BRRR strategy, especially for multifamily properties.
The article below sheds light on how DSCRs come into play with the BRRRR method. Happy to connect!
https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...