How do I get myself unstuck and move forward to my next property?

[Amadeus Hladun]

Hey everyone, my name is Amadeus. I have been very passionate about real estate ever since I have stumbled upon it and spent quite awhile just building up my knowledge and a successful mindset and after I felt comfortable enough started to use the rental property calculator and found a property that I liked. The property worked so me and my wife took the leap and so we bought our first rental property just about a year ago.

But where the problem lies is that I purchased this property before I ever seen the BRRRR strategy where I would be able to go on to the next property MUCH quicker. So as of right now my property is still a liability (which I don't like) hahaha but it wouldn't be if I could rent out the basement that me and my wife are currently living in then it would be cash flow positive. But I can't buy another property yet because we do not have a bunch of money saved up because we just got married this year and we didn't use the BRRRR method so we can't refinance and pull equity out... I guess what I am trying to get at is I am wanting to know how to get into my next property the fastest, because my goals are moving a lot slower than I know they could be right now and it is sort of frustrating. So if you have any pointers or insight it would be GREATLY appreciated! :)

[Dave Van Horn]

@Amadeus Hladun

Are you investing in the US or Canada? Because it may be different where you're at. But in the U.S., Hard Money Lenders are normally lending against the asset, not you. So if you find a good enough deal, they'll lend on it and it'll act as collateral if you don't pay.