Not enough money for a traditional Brrrr in my area. Looking

[Andrew Yozamp]

Hello everyone, As the title says the area I live in, which is Vancouver Wa has pretty high prices at the moment. Finding a distressed property at a great bargain seems to be pretty tough, I am only going off info I have received from local forums. I am still in the very begging stages of this process and am still trying to figure out creative options to get my first property. I do have access to a private money lender, but I don't think I can get enough to buy a property outright. Would it be a good idea to borrow enough money for a down payment and rehab cost for a distressed property? That way I can still increase the value of the home with the rehab and hopefully get approved for a cash-out refi in order to pay back my private money lender and repeat the process. I know there are many variables to this situation but I cant see to find any examples of this process so I definitely feel like I'm missing something. I'm assuming it has to do with the refi portion. Any insight would be greatly appreciated.  

Thank you for reading.
 

[Tyler Solomon]

Quote from @Andrew Yozamp:

Thanks Nathan, definitely sound advice and more secure for sure. How would you go about accumulating multiply rentals with this strategy? My goal is to get to around 20 rentals possibly more. It would take an exuberant amount of time trying to save up that many down payment. I'm assuming it would have something to do with leveraging properties you are able to obtain in the beginning? 

 Andrew - great advice from Nathan and I whole heartedly agree. As long as you are buying properties that appreciate in value, you will be able to pull equity out of them down the road to help finance further acquisitions.