Creative Funding Ideas

[Jacob Shuey]

I currently closed on a property and am looking into ways to continue to scale.  The house itself is in Hagerstown MD and was not the best investment but it was attached to me and I now own an entire duplex as well as the property attached to my family.  It was still worth it.  Now comes the challenge of keeping the momentum.  

Quick rundown of the numbers:

Purchase: $130,000  

Mortgage and escrow: $1045 

Total Expenses: $1195

Rent: $1500

Total cashflow: $305

Primary issue right now is a 2 year buy back term for a DSCR loan that does have a large penalty for that first 2 years. Making a cashout refi next to impossible as far as I can read for those 2 years. In the meantime I'm looking for some options in terms of creating some financing to scale. The 2 year buyout was needed to really make this work and give me piece of mind. Now we move to the fun part of what to do next and how best to move forward with financing. I know I could potewntially use a HELOC but are there any other options? Any ideas are appreciated to continue this journey and grow.