I Took The Leap, Seeking Guidence

[Dan Wynn]

Hey BP friends,

I took finally took the leap a few weeks ago and purchased 2 SFRs, i used a personal loan to finance them both.

House 1: Is a 4/2 1600sqft. Needs 19k to rehab. Will take 8 weeks to rehab. ARV based on recently sold comps will be 20k more than i paid. Will rent for 825 a month.

House 2: Is a 3/2 SFR 1300sqft. Needs 12k in repairs. Will take 4 weeks to rehab. ARV should be 40k more than i paid. Will rent for 800 a month.

Need some advice. I only have enough funding to finish one home. Im tapped out on cash and credit. I plan on finishing house 2 and doing a cash out refi to fund house 1. 

Any advice on other options that would allow me to do both at the same time? 

Any other advice on generating cash to buy more homes? 

[Mitchlyn D.]

Awesome Dan!Looking to do the exact same strategy. Do you have any partners in mind to team up with for extra funds for the rehab? That's all I can think of.