We are officially ALL IN

[Nathan Harden]

Looking for some advice.

Okay soooo, My wife and I live in WA state. I really got into learning about REI about 1 year ago. Since then, we acquired 3 SF rentals in Ohio. We sold one so now we have 2 with tenants in place. We were running low on capital but knew there was opportunities out there, we just had to take the leap.

So, we sold our primary, moved into a 5th wheel so that we now have my wife 100% debt free, while I only have very little debt in my name as well. We now have capital, free debt and hungry eyes. We have private money as well when needed. 

I guess my question would now be, how are we going to be able to scale quicker? Do we use our capital and private money to purchase turnkey rentals for $70k cash then turn around and refi them immediately for 75% LTV and just do that until we run out of Capital? Or should we hold onto each property until we have a handful of properties and refi them all at once with a commercial type loan or portfolio loan?

Here is what we were thinking. Use the private money to acquire each property with a cash purchase (cash offers always look better). Since we are leaning toward more turnkey/light rehabs, we would then be able to refi quickly because some banks don't have seasoning periods when buying with cash for a refi. We refi the property at 75% LTV, pay back our private lender the 25% difference out of our pocket, rinse and repeat until we eventually run out of capital....

We are actively making multiple offers weekly, I thought that I would come on here in the meantime and look for some advice. Our biggest hold up is honestly the lending aspect, just unsure which route will be the best and smartest to get us from point A to point B the quickest with the most money in our pockets.

I know there are ways to grow a portfolio rapidly, especially when so many are trying to get out of the game/ take a break from buying. 

Any and all advice is greatly appreciated!