Sources of Financing - BRRRR Strategy

[Paulo A.]

Hello BP community -

I'm new to the BP and looking to start investing out-of-state. Currently, looking into the Kansas City market.

I'm planning to execute the BRRRR strategy on either SFR or duplexes and was looking for some help on how to properly structure and get clarity on the sourcing of the initial financing and cash-out refi portion of the deal.

My question is directed to those who have pursued this strategy: 

1. Who did you use to provide the initial funding for the property acquisition & rehab part of the strategy (is it one or two parties?) and from who did you secure long-term financing when refinancing the property? 

2. To that end, how long did you have to wait before you were able to refinance the project? Would I have to first go through a HML or private loan to fund the first part of the strategy and then secure a conventional mortgage when looking to refi, or are there other financing sources that would allow me to execute this strategy all the same?

Thank you in advance.