Should I Flip, BRRRR or is there another way ?

[Kervin Simon]

Hello BP family,

Happy to be officially part of the team. I have an issue at the moment I don't have a investor mentor just virtual mentors and through self education I manage to get my first rental with an FHA loan 2 years ago. I saved enough money to purchase once more but the lender said my DTI ratio is off with my first mortgage even though I told them its a rental. My end in mind is to have enough rentals to be financially free. I applied with a hard money lender but only got approved for 90k including rehab and I live in south Florida. The lender said I have to close it under an LLC which I created but would I be able to BRRRR if its under a LLC ? Would it be better off to flip and gain capital ?

[Andrew Syrios]

Welcome Kervin. You may want to do a combination of both. Flip some to earn some money to live off of and for down payments and hold some too. Perhaps hold every third one. That should also help improve your DTI for bank loans. Also, you could look for some private lenders who will give you better rates than hard money lenders.