Lending Advice Needed

[Jason Seward]

Hello BP folks! I have had my toes dipped in real estate for several years now, but never with a focus on growing a large portfolio until recently. I've bought, rented, sold, flipped, etc all around my home town since I left college but only really doing one house every other year or so over the past several years. This year, I have become obsessed with educating myself as much as I can with the intent to grow much more aggressively. I did a "BRRRR" in early 2019 that worked out great. After 6 months I cashed out into a conventional mortgage. In September I purchased the next property. This one needed a bit more rehab, but I just wrapped up and have a tenant moving in January 1st. The plan is to refi into another conventional loan and then move on to the next. However, with the 6 month seasoning, It will be March before I can cash out. Initially, I was perfectly fine with this pace of buying one every 6 months and slowly building a nice portfolio of properties. However, as I get a taste of this "BRRRR" strategy and I gain more experience, I really want to explore other options for lending that will allow me to move a bit more aggressively. I have connected with a few hard money lenders that can be options to buy and rehab while my cash is tied up in other deals, but I need to connect with a long term lending option outside of conventional loans that will allow me to cash out refi sooner than 6 months. Does anyone have any tips, advice, guidance, etc? I know some smaller banks will do portfolio lending and I plan to reach out to several soon. Do any of you have recommendations for banks in the Central/Tidewater VA areas that do this? What are typical terms I can expect on these?(interest, LTV, seasoning period, etc.) Any advice would be much appreciated.