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Updated over 7 years ago on . Most recent reply

User Stats

194
Posts
148
Votes
David J.
  • Investor
  • shawnee oklahoma
148
Votes |
194
Posts

Discouraged. No idea how you pros do it!

David J.
  • Investor
  • shawnee oklahoma
Posted
Can someone explain how to keep buying property? I have read all about the brrrr strategy etc. but real life doesn't seem like it will pan out I have 5 financed properties now. Planning to refinance 3 and buy more but I am finding that property 6 and 7 will have much higher reserve requirements and 8,9 &10 get insane. 10+ can't even be financed I think I can pull off 6 and 7 but how on earth can I ever get 8 much less 8+?!? Thank you

Most Popular Reply

User Stats

791
Posts
1,670
Votes
Austin Fruechting
  • Investor
  • Kansas City, MO
1,670
Votes |
791
Posts
Austin Fruechting
  • Investor
  • Kansas City, MO
Replied

You don't have to get creative. The answer is find a different bank. I use a smaller local portfolio lender and they don't even ask for required reserves from me. 

Experience: currently at 141 rental units across 58 properties in under 7 years with several BRRRR's.

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