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Updated almost 9 years ago,
Have 35K after flipping. Want to start investing in rental proper
My father I bought and rehabbed a home and after all the expenses we net a little over 35K. We want to start investing in rental properties and move away from flipping. What should our approach be and we're planning on buying 2 houses and I would work on one and he would work on the other. Should we try to put a down payment of 20% on both homes and start working on them and after we were finished and found renters, how should we refinance to keep doing this? We already have one property we payed cash for that is leased and it generates 850 dollars each month. We've had this house for 3 years now and never had a problem finding a renter. I just don't know what I would need to do after we fix both house and how to refinance it so we can keep going growing. I know what about the BRRR strategy but what would be the best and what lenders should I go to or who to talk to about financing. Still new to real estate investing and eager to learn more so I'm open to any suggestions.
Thanks BP!!