Owns 3 Properties - Requesting BRRR & Financing Advice

[Sean Li]

Hi, 

I currently own 3 SFH rentals. I am requesting advice regarding obtaining financing for a 10-unit apartment. I currently have around $50K in cash. Please see below info and let me know what you think is the best approach to obtain cash for the down payment and also for financing the property. I am familiar with the BRRR method through reading on this site but not sure whether BRRR or LOC would make sense. Please advise.

Target property: 

Asking Price - $900K

Actual rental income (2018) - $100,500

Taxes - $10,000

Expenses - $23,000 (I believe this excludes management fees, need to confirm) 

Current Portfolio (I manage all 3) - Purchase Price/Equity/ All Expenses including PITI /Annual Rent.

1. $325K / $90K / $17K / $23K 

2. $359K / $150K / $17k / $30K 

3. $460K / $110K / $30K / $36K