Private lender vs cash out refinance

[Jeff O'Shea]

I'm looking to purchase another 2-4 family rental property in the Albany NY. I could possibly use a cash out refinance, although I would like to get the property paid off in full before I do a cash out refinance. If I wait, That would allow me to purchase two more locations instead of just one. Reason being is don't want to keep paying closing costs. Anyone know any private lenders in the Albany NY? I don't want to get locked into borrowing money for 30 years at a 7-8% interest rate which also charges a penalty if it's paid back early. Any ideas would be appreciated. Always looking for the best way to continue to grow. Thanks in advance..