Hello BiggerPockets! - Let's Talk

[William Koehler]

Good afternoon BiggerPockets, it's great to finally meet. Long time member, first time poster. 

My name is William and I am a new, but active real estate investor based out of the Twin Cities, MN. I have recently closed on my 3rd single family home in the area and am looking to grow, scale, and evolve over the coming year. I don't know exactly what that will mean yet, but that is something I am working on. Small multi-family properties? Out of area investing, as my current market is beginning to get pretty pricey? Incorporating the BRRRR strategy? All three is the most likely answer.

My question to the forums is this... How do you push past the plateau that you hit when you need to start getting creative with financing? Should I start looking for portfolio lenders? Should I consider wrapping my early investments into a commercial portfolio loan? Is there a moment you can point to that you felt you had reached the next level, especially when it relates to financing deals? 

Thank you all for being a resource to me as I work my way to financial freedom. If anyone is in my area (or not!) and would like to connect, feel free to contact me through BiggerPockets!

Nice to meet you all! 

[John Woodrich]

Welcome to BP.  Sounds like you have a good start and are working proactively on solving problems before they become issues which is good.

On the financing side you will want to connect with @Tim Swierczek, he is a financing expert.  He can talk to you about extending your personal credit to purchase properties and he can also give you portfolio options if needed.

I would work on utilizing personal financing as long as you can because it is cheaper. I would also make sure you are purchasing properties the cash flow enough so they don't impact your DTI ratio negatively. If you start getting tight you can get into portfolio but the numbers will also get tighter because of higher interest rates any typically shorter amortization periods.