Once you have your first rental property, how about next

[Owen Thornton]

After buying your first rental property, getting a grasp of the system, and getting some skin in the game, how about financing that next property?

Once you have your first property, and you spend most your money you saved on the down payment, and fees, closing costs, etc, what are some creative strategies you may use to get back to buying your next great deal?

Let’s say you find an excellent deal maybe a month after and you’re short on cash, perhaps you can try to partner, or find a private lender willing to take the risk but it is quite the task to actually get through that quick.

I have wondered about hard money,

How does this work when you refinance a hard money loan? Where do you get the money to refinance and pay for the new down payments and fees?

Do they charge points?

Or typically, are these fees covered by people who use BRRRR and renovate and establish equity in the property that pays off the down payment?