How do you do BRRRR to get multiple properties in a few months?

[Alex Speiser]

I have a question. I'm biting at the bit to start using BRRRR. But here's my uncertainty:

When you get the first property, some of the resources I've explored talked about waiting about a year or so before refinancing. So, I wonder, does that only apply if you get a loan from an official institution like a bank, but not the case with a private lender?

ALSO, after getting the first property, having bought, rehabbed and are now renting, how do you get the next loan for the next property you need to buy and rehab (assuming that you're getting the second property just like a month after the first)? Do you have to find a new lender? 

What's the best strategy to do rapid fire like this so I'm not waiting months or a year or so before I do the next BRRRR property?

I'm ready to start doing this, but can't close this gap in my understanding.

[Brandon Sturgill]

@Alex Speiser BRRRR is a cash acquisition strategy...I get calls routinely from guys that try to do this with loans and get killed...some to the point they pause any investing for years...you're looking for extreme discounts and buying at 50-60% of value...for cash

The problem with the hype around BRRRR is nobody is really honest about this...BP doesn't help much by pushing this technique to every new investor in the nation...this is not a beginning strategy. And it is not a good way to scale.

All that said, you may have the deal of a lifetime, very little renovation, and a great appraisal and pull this off with a bank loan. 

Here are a few things to consider (but don't get discouraged): 
https://www.biggerpockets.com/member-blogs/5871/85569-brrrr-sucks-heres-why