How do I buy more property if I spent all on my 6 units

[Juan Avalos]

Hey everyone so me and my 2 partners formed an LLC and recently bought 6 units that bring in a good cash flow of $2600 monthly - We put in mostly all our cash without damaging our normal lives :-) .Its going to be a bumpy learning experience but we are up for it. Now my question is going down to road to acquire more units HOW SHOULD WE DO IT?.. LTV on what we have and then buy more with that cash?- but this will mean that we will have a mortgage on the LTV on the properties and defeating the purpose- right? we will not FLAT out own the 6 units anymore. Finance the other properties we find and have an actual mortgage on them? Just keep saving those $2600 monthly until we build enough to buy more? ( slow process) Private money ?.. yes but the thought of " pitching " our investment goals to anyone seems daunting.. plus we don't know people that have 20-30k cash off the bat If anyone can give us advice that will be great!! BTW - We are 3 United States Navy Chiefs just trying to secure our future :-)

[Marc Winter]

@Juan Avalos

@Juan AvalosWhy not ask seller to finance your next deal?  There are TONS of properties that are either free and clear (like yours!) or with very high equity.  Explain the benefits of the seller holding the mortgage/note on the property.  This is very different that 'pitching' for private money from a third-party investor.

Take a deep breath and hit the books, podcasts, seminars and meetups.  Get that education about alternative ways to finance, then use that information to make deals that work for the seller and you!

Good luck!