How to I continue growing my business???

Question

I purchased properties with my savings, a 401K loan, a HELOC on my personal property, how do i continue growing my real estate business without having to wait for the funds to slowly trickle in from the rentals? What are my options? How to I proceed? Thoughts?

Account Closed · Answer

Slowly but surely, always keep an eye on the numbers, I have been told by people with experience that in the beginning people tend to become over enthusiast and leverage too much. Make sure you pay off some of your original loans to get a bit more cash flow. Which is always good.

Just be patient and don't rush things. Get rich slow.

Danny F. · Answer

I agree with everyone above.  There are multiple ways of strategizing this approach.  Basically always figure out how you will be adding value through whichever method you utilize.  And how you can pull the resources out.  Great way to do this is frequently if not "always" look at your numbers, build your team and strategize.  If your money is tied up at this time, 6mos to a year refi if you added value to your property or hard money.  If you show positive cash flow you can finance and combo w/ hard loan for rehab, then refi / or do a flip.  It goes on and on.  Keep going, you'll find a way.  Congratz btw on purchasing property and becoming an investor.

aloha,

Danny

James Stevens · Answer

That's where the BRRRR strategy comes into play.  Buy, rehab, rent, refinance, repeat

Aaron Howell · Answer

Buy properties with Hard Money that you can flip and use the proceeds to proliferate into more rentals.  Then refi later on pulling out cash and do more.

Mike Dymski · Answer

Purchase properties where you can add value and cash out refinance your original down payment.

Raise money from private investors.  Chad Carson has an excellent podcast on it.