BRRRR looking for the best strategy for leverage buy & hold

[Robert Collins]

I have a question, that I think some of you may be able to help with, ok I was looking for homes I could purchase around the 40-60k Arena and I went to put in a offer on a home that was $50k , but in my mind I was looking to finance, put 20% down put in about $12k in cosmetics repairs , but I was informed that it's hard to get a loan under 50k, which I do have the money to pay cash but I necessarily didn't want to tie up the money, I was like I rather buy a 100k home and put 20k which will still give me a better leverage angle but then someone told me i could buy a home 40 cash Put the money in for repairs let say it's 20k which would be all in For 60 and get it appraised, let's say the appraisal is 95k , you can go and get it refinance and pull the cash out and go do it again on another property, only thing is, if the property is in a LLC it harder to get banks to refinance, I might have to go to a private lender ( assets based lender) and get them to refi . Does anybody else find this to be true or have any tips, pros/cons ?

[Rick Pozos]

I think you need to go out and find a deal that is NOT on the MLS, something off market. It has to be a great deal for me to even want to go look at it.

Once you have a property that you are going to get under contract, THEN start worrying about the financing. If it is a great deal, how long does it take to call all of the hard money lenders in the area??? It takes about an hour. You will probably have a 7day option period so you are in the clear.

You can think about all of the hypothetical situations in the world, but until you have a contract, you are spending so much time thinking when you could be out there marketing to find a deal!!!