Financing the next deal/

[Julian Hutch]

About 2 months ago I purchased my 1st rental property, a duplex. For financing I had to put down 25% over 80k. This has left me fairly cash poor. My question at this point is two fold. With a strategy to build a rental property portfolio (a mix of 1-3 year buy and holds and longer term rentals) to transition full time to a real estate career what should be my next steps. Do I go the route of a hard money loan? If I go the route of hard money how easy is it to refinance out and get conventional financing? My wife and I currently work would it still work using hard money and refinancing in a couple years with no W2 income? How are you guys getting around having more than 4 mortgages at a time? Should I open an LLC and use a business line of credit /s this even a viable option? Is it best to continue saving up and using the cash flow from the rentals to put down another 20 every time? I ask these questions because I need to educate myself on these options so I can build a good plan going forward. Thanks for the input in advance!!