Looking for advice...

[Ashley Nichols]

Background: I'm a novice real estate investor...I own a single family rental and another property. I work as a registered nurse. 

I'm in the process of obtaining a HELOC on my single family rental (it's paid off), because of my debt to income ratio I was only approved for $145k. I asked the bank about adding a partner but because we're not married I would have to add him to the title which I would also have to pay excise tax on. May not be worth it?

I want to BURRR a property, many properties : ) 

1.) Should I try and obtain more credit (I want to use as little of my money as possible), or try to make it work with the HELOC of 145k, or any other suggestions??

2.) If I'm having trouble obtaining more financing now will that also be the case during my "refinance" process of the BURRR strategy? I need to refinance the property to repay the HELOC to be able to repeat it.

3.) I also have equity in another property and about $80k in savings. If I'm able to obtain the HELOC for $145k, should I utilize the BURRR strategy or should I be doing something different with my money.

Just looking for opinions/advice. I'm finally ready to pull the trigger, just want to make sure it's in the right direction...

Much appreciated. 

Ashley